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bcu Standard Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.65% p.a.1 year
Minimum deposit
$1,000.00
Interest paid to another bank?
Yes

Mozo editorial review bcu Standard Term Deposit

Last updated: 20 November 2020.

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What's hot
  • 0.65% p.a. interest rate (on balances between $1,000 and $99,999, 3 months at maturity)
  • Interest payable to another bank
What's not
  • Interest paid monthly at lower rate
Mozo snapshot

For anyone looking to safeguard their savings against dropping interest rates, the bcu Standard Term Deposit could be a good bet. It offers interest rates of between 0.20% p.a. and 0.65% p.a. on balances of $1,000 to $999,999.

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Key features

You’ll have a lot of choices when it comes to the bcu Standard Term Deposit, with terms ranging from 1 month to 3 years. 

To give an example, if you lock away your savings for 12 months, you’ll be looking at their current highest interest rate of 0.65% p.a. Interest is calculated daily and paid out at maturity, but there's also the option to have interest paid monthly at a slightly lower rate.

Remember, if you do choose the monthly option (or quarterly or six-monthly for longer terms), you'll need to have the interest paid into a bcu savings or loan account as you go. If you want to send your savings off to another bank once they've matured, that won't be a problem or come at a fee.

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Who is it good for

Since higher interest rates are garnered by terms which are 12 months or longer, the bcu Standard Term Deposit might be appreciated by people who are happy locking away a sum for a longer time, and don't anticipate a need to draw on it in emergencies.

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Any catches

The account automatically rolls over at the end of the term, so if you’re not planning on renewing, be sure to let bcu know before it reaches the maturity date.

Details

Rates and fees information correct as at 28 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 0.20% p.a. ($1,000 to $999,999)

  • 0.20% p.a. ($1,000 to $999,999)

  • 0.65% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.65% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.60% p.a. ($1,000 to $999,999)

  • 0.65% p.a. ($1,000 to $999,999)

  • 0.65% p.a. ($1,000 to $999,999)

  • 0.65% p.a. ($1,000 to $999,999)

Other financial bits
  • $1,000.00

  • $999,999.00

Features
  • Yes

  • Yes

  • none

  • none

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

Customer Reviews

How are bcu term deposits rated by the Mozo community?

Overall
8.0/10
Price
7.3/10
Features
5.8/10
Customer service
8.2/10
Convenience
8.6/10
Trust
9.1/10

Latest review of bcu Standard Term Deposit

  • Overall 1/10
    Average

    If you need to break your fixed term early the rate at which they are permitted to re-evaluate it is criminal, think Ned Kelly in official capacity; highway robbery... - the banks aren't permitted to use such a low interest rate recalculation. Yet BCU say there is no penalty when you sign up, it's just in a different form.....

    Read full review

    If you need to break your fixed term early the rate at which they are permitted to re-evaluate it is criminal, think Ned Kelly in official capacity; highway robbery... - the banks aren't permitted to use such a low interest rate recalculation. Yet BCU say there is no penalty when you sign up, it's just in a different form.....

    Price
    1/10
    Features
    1/10
    Customer service
    2/10
    Convenience
    8/10
    Trust
    4/10
    Less
    Sharon, New South Wales reviewed over 8 years ago
bcu

About bcu

bcu began in 1970 when a group of north coast banana growers pooled their resources, and formed a credit union. Since those humble beginnings bcu has grown to 54,000 members, and includes 21 stores from the Sunshine Coast to Port Macquarie, plus telephone and Internet banking facilities. bcu is now a division of Police & Nurses Limited after a 2019 merger. bcu has a wide range of personal finance options to simplify your banking, including credit cards, home loans, personal loans, savings and transaction accounts and term deposits.

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