7.7/10

Based on 956 Bank of Melbourne product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Bank of Melbourne term deposits

Formerly St.George in Victoria, The Bank of Melbourne provides a banking alternative to customers with its large range of products in home, personal and business banking. Based in Victoria the Bank of Melbourne offers its customers bank accounts, credit cards, term deposits, private banking services, home loans and personal loans.

Bank of Melbourne offers the following term deposits

Rates and fees verified as correct at 18 June 2024. 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

4.30% p.a.1 year ($1,000 to $2,000,000)

$1,000.00

yes

Term Deposit - Special Offer

4.80% p.a.1 year ($1,000 to $5,000,000)

$1,000.00

yes

How are Bank of Melbourne term deposits rated?

Mozo users have rated Bank of Melbourne 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 of Melbourne term deposits customer reviews
Overall
8.2/10
Price
7.9/10
Features
7.1/10
Customer service
8.3/10
Convenience
7.7/10
Trust
7.8/10
Based on 9 Bank of Melbourne product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Bank of Melbourne term deposit reviews

Bank of Melbourne Term Deposit
Overall 9/10
Term deposits, check,read everything

Bank of Melbourne has 4.10% for 12 months which is good, as at Jan 2023. however they are paying my interest into a non interest account so every month I have to shift it , which is a pain. Also the account I have selected works on a variable return so it has to be watched constantly. I also see they are not adjusting investment returns along with the RBA advice and their own lending rates , thus the profit return is climbing. Good for share holders I suppose Furthermore I get varying advice from branch to branch which can be different again from on line My advice to anyone looking to term deposits , trust no one read everything and check and re check constantly , unfortunately yes ' they are all the same ' with fast talking staff who often do not fully brief you. Its what they don't say that counts

Read full review

Bank of Melbourne has 4.10% for 12 months which is good, as at Jan 2023. however they are paying my interest into a non interest account so every month I have to shift it , which is a pain. Also the account I have selected works on a variable return so it has to be watched constantly. I also see they are not adjusting investment returns along with the RBA advice and their own lending rates , thus the profit return is climbing. Good for share holders I suppose Furthermore I get varying advice from branch to branch which can be different again from on line My advice to anyone looking to term deposits , trust no one read everything and check and re check constantly , unfortunately yes ' they are all the same ' with fast talking staff who often do not fully brief you. Its what they don't say that counts

Price
10/10
Features
7/10
Customer service
9/10
Convenience
1/10
Trust
6/10
Less
Christopher, Victoria, reviewed over 1 year ago
Bank of Melbourne Term Deposit
Overall 8/10
Very competive

Personal service approach.

Read full review

Personal service approach.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
C, Victoria, reviewed almost 9 years ago
Bank of Melbourne Term Deposit
Overall 6/10
Good customer service

I have a term deposit with this bank, I like this bank because I get good service regardless of which way I contact this bank, I do have one gripe and that is I feel the interest rates are a bit low.

Read full review

I have a term deposit with this bank, I like this bank because I get good service regardless of which way I contact this bank, I do have one gripe and that is I feel the interest rates are a bit low.

Price
4/10
Features
4/10
Customer service
6/10
Convenience
6/10
Trust
6/10
Less
Richard, Victoria, reviewed over 9 years ago
Bank of Melbourne Term Deposit
Overall 10/10
Bank of Melbourne are for me!!!!!

Friendly helpful reassuring so glad I bank with Bank of Melbourne

Read full review

Friendly helpful reassuring so glad I bank with Bank of Melbourne

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Sandy, , reviewed over 9 years ago
See all term deposit reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
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.

Term deposit quick links