Bendigo Bank Term Deposit

2.05% p.a.3 months

no

Bendigo Bank Term Deposit

2.05% p.a.3 months

no

Mozo Review   Bendigo Bank Term Deposit Review

Last updated: 14 June 2019.

What's hot:
  • 2.00% for a one year term (balances over $5,000)

  • Add to your deposit within 7 days of opening or renewal

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 everything from flexibility to competitive rates. Bendigo Bank not only offers great interest rates, but also 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. 

Key features:

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 2.00% interest rate, for a three-year term you’ll earn a 2.25% interest rate and for a max five-year term you’ll earn an interest rate of 2.25%.

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!

Who it's good for:

The Bendigo Bank Term Deposit is a particularly good choice for two types of Aussies - those with $5,000 on hand and at least a year to take full advantage of the great rates and those who are looking to reinvest automatically and top up their term deposit each time. 

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 16 June 2019. 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
  • 0.50% p.a. ($1,000 to $4,999)

    1.25% p.a. ($5,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $4,999)

    1.55% p.a. ($5,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $4,999)

    2.05% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.50% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.90% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    2.00% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.90% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.45% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.45% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.50% p.a. ($5,000 to $5,000,000)

  • 0.75% p.a. ($1,000 to $4,999)

    1.50% p.a. ($5,000 to $5,000,000)

  • 1.25% p.a. ($1,000 to $4,999)

    2.00% p.a. ($5,000 to $5,000,000)

  • 1.50% p.a. ($1,000 to $4,999)

    2.10% p.a. ($5,000 to $5,000,000)

  • 1.50% p.a. ($1,000 to $4,999)

    2.25% p.a. ($5,000 to $5,000,000)

  • 1.50% p.a. ($1,000 to $4,999)

    2.25% p.a. ($5,000 to $5,000,000)

  • 1.50% p.a. ($1,000 to $4,999)

    2.25% p.a. ($5,000 to $5,000,000)

Other financial bits
  • $1,000.00

  • $5,000,000.00

Features
  • direct credit, cheque

  • 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.

Customer Reviews

How are Bendigo Bank term deposits rated by the Mozo community?

Overall customer rating
8.4/10
Price
7.7/10
Features
6.9/10
Customer service
8.7/10
Convenience
8.5/10
Trust
8.7/10

Latest reviews of Bendigo Bank Term Deposit

  • Overall
    9/10
    Oustanding work ethics and communication

    Very informative knowledge of products offers information about new products. Even will collect...

    Very informative knowledge of products offers information about new products. Even will collect deposits from my house and deposit in nearest bank 40 kms away. No problem is too big or small. Reliable communication. As well as open on Saturdays - brilliant.

    Price
    10/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10

    Jenny | New South Wales

    reviewed over 5 years ago

  • Overall
    6/10
    Convenience

    Convenient location but service is not so good.

    Convenient location but service is not so good.

    Price
    6/10
    Features
    7/10
    Customer service
    5/10
    Convenience
    -1/10
    Trust
    5/10

    Tracey | Queensland

    reviewed over 5 years ago

  • Overall
    8/10
    Wonderful service

    Staff really look after me. They give me notice when the term is about to mature, and take time...

    Staff really look after me. They give me notice when the term is about to mature, and take time to go through with me the options available to me.

    Price
    8/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Name not supplied | Queensland

    reviewed over 5 years ago

  • Overall
    10/10
    Best features & customer service available for us

    The Bendigo Bank's products, service & customer attention have been exemplary and by far...

    The Bendigo Bank's products, service & customer attention have been exemplary and by far surpassed any I have encountered over the years.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Name not supplied | Queensland

    reviewed over 5 years ago

  • Overall
    10/10
    First class service and financial product range

    The local Bendigo Community Bank have terrific staff who are most helpful,understanding, and very...

    The local Bendigo Community Bank have terrific staff who are most helpful,understanding, and very pleasant and approachable to deal with. Their range of products gives one a very competitive choice whether it be interest rates charged or interest rates on offer for investment purposes.

    Price
    8/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Name not supplied | Victoria

    reviewed over 5 years ago

Bendigo Bank

About Bendigo Bank

Bendigo Bank is a community focused bank that's all about customer satisfaction. Over the past 20 years, Bendigo Bank has given back $165 million to help communities build the things they need to thrive. With a national presence and an innovative digital experience, Bendigo Bank offers a full range of financial services including credit cards, personal loans, home loans, savings and bank accounts to help Aussies meet their money goals.

See Bendigo Bank term deposits

Promoted

MyState Bank

MyState Bank

Term Deposit

2.20% p.a.

$5,000.00

Promoted

UBank

UBank

Term Deposit

2.25% p.a.

$1,000.00

Promoted

Citi

Citi

Term Deposit

$250,000.00

Promoted

UBank

UBank

Green Term Deposit

$1,000.00