Best rate (up to 1 year)
0.30% p.a.1 year
Minimum deposit
$5,000.00
Interest paid to another bank?
yes

Mozo editorial review firstmac Term Deposit

Last updated: 6 November 2020.

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What's hot
  • 0.20% for 6 month terms (balances over $5,000)
  • 0.15% for 3 month terms (balances over $5,000)
  • Interest can be paid to another bank
What's not
  • Minimum $5000 deposit required
Mozo snapshot

If you have some cash you want to lock away for a short or medium period of time, then a Firstmac term deposit could be your savings answer. With the option to have your interest paid into a separate bank account and rates of up to 0.30% p.a. for one and two year terms, Firstmac could be the flexible option to help your savings stash grow.


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Key features

Firstmac offer term deposits for amounts between $5,000 and $5 million. Rates range from 0.10% p.a. (for 1-month terms) to 0.30% p.a. (for 12 month and 2-year terms).

You can choose to have interest paid at maturity or monthly for longer terms. Although keep in mind that the interest rate may vary, depending on what you go for.

Firstmac also gives you the option to have your funds automatically rolled over into another term, upon maturity. Or you can choose to split the principal from the interest or simply close the account. You can contact Firstmac at anytime before maturity, to adjust your payout instructions.

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Who is it good for

A Firstmac term deposit would be most suited to someone looking to stash a lump sum for a shorter period of time.

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Any catches

You can only apply for a Firstmac term deposit online. However, if you need help with your application or account they have a range of customer service options including web chat, Skype, email or phone.

Details

Rates and fees information correct as at 24 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
  • 0.10% p.a. ($5,000 to $5,000,000)

  • 0.15% p.a. ($5,000 to $5,000,000)

  • 0.15% p.a. ($5,000 to $5,000,000)

  • 0.20% p.a. ($5,000 to $5,000,000)

  • 0.30% p.a. ($5,000 to $5,000,000)

  • 0.30% p.a. ($5,000 to $5,000,000)

Other financial bits
  • $5,000.00

  • $5,000,000.00

Features
  • yes

  • yes

  • none

  • none

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

Customer Reviews

This product is not currently reviewed.

firstmac

About firstmac

Firstmac has more than 30 years' experience in home and investment loans. It is an Australian-owned financial services provider and has written in excess of 68,000 home loans in the past decade. Firstmac manages approximately $5 billion in mortgages and $150 million in cash investments and is a premier sponsor of the Brisbane Broncos.

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