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Bendigo Bank Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.30% p.a.1 year
Minimum deposit
$1,000.00
Interest paid to another bank?
no

Mozo editorial review Bendigo Bank Term Deposit - last updated: 8 October 2021

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What's hot
  • Add to your deposit within 7 days of opening or renewal
  • No set-up or ongoing fees
  • $1,000 minimum opening
What's not
  • Early withdrawal has a 31 day waiting period
Mozo snapshot

If you’re looking to stash your cash in a term deposit without hassle, then you’ll need an option with flexibility. Bendigo Bank offers a range of investment terms tailored to suit you. And with no fees and accommodating interest payment options, you’ll be well on the path to reaching your savings goals. 

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Key features

The Bendigo Bank Term Deposit is transparent with your return and gives you plenty of options for how long to invest your money. Starting from 1 month, Bendigo Bank allows for terms up to 5 years. All you’ll need to get started is a minimum $1,000 investment and you’ll fix the rate of return for the life of your investment.

Those looking to invest more than $5,000 on a one-year or two-year term can earn an interest rate of 0.30% when interest is paid at maturity. Rates reduce for lower amounts or if you want to have interest paid at shorter intervals, and can vary depending on the length of the term.

You won’t go without choice when it comes to having your interest paid to you, with Bendigo Bank’s range of interest payment options including at maturity, monthly, quarterly, half-yearly and yearly, depending on the term you choose.

A unique feature that sets Bendigo Bank’s Term Deposit aside from most is the option to add to deposits within 7 days. You should also know you won’t have to set up another account and start all over again for another term deposit period; Bendigo Bank term deposit offers automatic rollover. Just be sure to check what deal you’re getting before letting your account rollover, because, by that time, there may be a better deal out there waiting for you.

And if you’re asking yourself whether there are fees, the answer is no!

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Who is it good for

The Bendigo Bank Term Deposit is a particularly good those who are looking to reinvest automatically and top up their term deposit each time. 

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Any catches

Like most other term deposit accounts, you’ll need to give Bendigo Bank a month’s notice if you wish to withdraw your funds before the maturity date and just be aware you’ll lose out on interest if you do.

Details

Rates and fees information correct as at 8 December 2021. 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

0.05% p.a. ($1,000 to $4,999)

0.05% p.a. ($5,000 to $5,000,000)

0.05% p.a. ($1,000 to $4,999)

0.05% p.a. ($5,000 to $5,000,000)

0.05% p.a. ($1,000 to $4,999)

0.10% p.a. ($5,000 to $5,000,000)

0.05% p.a. ($1,000 to $4,999)

0.10% p.a. ($5,000 to $5,000,000)

0.05% p.a. ($1,000 to $4,999)

0.10% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.30% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.10% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.15% p.a. ($1,000 to $4,999)

0.30% p.a. ($5,000 to $5,000,000)

0.15% p.a. ($1,000 to $4,999)

0.25% p.a. ($5,000 to $5,000,000)

0.15% p.a. ($1,000 to $4,999)

0.30% p.a. ($5,000 to $5,000,000)

0.15% p.a. ($1,000 to $4,999)

0.30% p.a. ($5,000 to $5,000,000)

0.15% p.a. ($1,000 to $4,999)

0.30% p.a. ($5,000 to $5,000,000)

Other financial bits

$1,000.00

$5,000,000.00

Features

no

yes

31 days notice required if customers want to withdraw their funds before the maturity date.

none

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

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