The Bendigo Bank Term Deposit is transparent with your return and gives you the option to decide how long your money is invested. 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.
There are some bumper rates on offer, for example, on a one-year term on a balance of $5,000 you’ll earn a 1.50% interest rate, for a three-year term you’ll earn a 1.65% interest rate and for a max five-year term you’ll also earn an interest rate of 1.75%.
Also, 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 that 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 there’s not!