Your selected term deposits
Bank Australia is a customer owned bank. Formerly bankmecu, Bank Australia has over 130,000 customers which act as shareholders of the bank. It offers a full range of products including home loans, savings, credit cards and loan products, and because its shareholders are its customers, they benefit from lower rate and fees. Bank Australia also invests up to 4% of its profits in various community projects every year.
| INTEREST RATES P.A. | $500 to $3,000,000 |
|---|---|
| 3 months | 4.35% |
| 6 months | 4.35% |
| 9 months | 4.00% |
| 1 year | 4.00% |
| 18 months | 3.80% |
| 2 years | 3.80% |
| 3 years | 3.80% |
Rates are shown for interest paid at maturity for terms less than 1 year, and annually or at maturity for terms of 1 year or more.
Your selected term deposits
Signed up for a term deposit with BA due to their competitive rates. The account works fine as it is an uncomplicated product, however getting it set up was quite a large headache. After setting up online access, I had continual issues trying to transfer money into the account, with little useful information provided by the website/online portal. Calling customer support was helpful - no issues at all with their service, but this was quite frustrating as it was the result of a fundamental part of their service being unusable and unintuitive from the outset. I had no further issues after that point, however - but that is hardly surprising for an account that is intended to be left alone anyway.
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Term Deposit Awards
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