7.7 / 10

based on 536 reviews as rated by Mozo community

Bank Australia 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.

Bank Australia offers the following term deposits

Rates and fees verified as correct at 24 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Best rate (up to 1 year) Minimum deposit Interest paid to another bank?
Term Deposit

0.75% p.a.1 year

$500.00

no

Different interest rates apply to different amounts or different interest payment frequencies.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

How are Bank Australia term deposits rated?

Mozo users have rated Bank Australia term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of term-deposits
Bank Australia term deposits
Overall
8.5/10
Price
Features
Customer service
Convenience
Trust

21 Reviews

Recent Bank Australia term deposit reviews

Bank Australia Term Deposit review
Overall 10/10
Leading Interest Rates, and professional advice.

Bank Australia has everything I want, and gives me everything I need.

Read full review

Bank Australia has everything I want, and gives me everything I need.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
John, Queensland reviewed over 2 years ago
Bank Australia Term Deposit review
Overall 10/10
Leading Interest Rates, and professional advice.

Bank Australia has everything I want, and gives me everything I need.

Read full review

Bank Australia has everything I want, and gives me everything I need.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
John, Victoria reviewed over 2 years ago
Bank Australia Term Deposit review
Overall 9/10
Awesome Service

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.

Read full review

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
7/10
Trust
9/10
Less
Malcolm, Queensland reviewed almost 5 years ago
Bank Australia Term Deposit review
Overall 3/10
Pretty good face to face service, sometimes lacks

They are not fair. To gain maximum interest rate, you MUST transfer money from the account via the internet. Therefore people without access to the internet cannot operate the account and get the same amount of interest as those with electronic devices. Where is the fairness in that? Not everyone can afford electronic devices!!

Read full review

They are not fair. To gain maximum interest rate, you MUST transfer money from the account via the internet. Therefore people without access to the internet cannot operate the account and get the same amount of interest as those with electronic devices. Where is the fairness in that? Not everyone can afford electronic devices!!

Price
5/10
Features
3/10
Customer service
3/10
Convenience
7/10
Trust
3/10
Less
Ronda, Victoria reviewed over 5 years ago

Term deposit quick links