| Product | Best rate (up to 1 year) | Minimum Deposit | Interest paid to another bank? |
|---|---|---|---|
| Term Deposit |
4.00% p.a.10 months ($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 |
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.
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 reviewBank 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
Personal service approach.
Read full reviewPersonal service approach.
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 reviewI 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.
Friendly helpful reassuring so glad I bank with Bank of Melbourne
Read full reviewFriendly helpful reassuring so glad I bank with Bank of Melbourne