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G&C Mutual Bank Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
5.20% p.a.6 months ($1,000 to $2,000,000)
Minimum Deposit
$1,000.00
Interest paid to another bank?
yes

Mozo editorial review G&C Mutual Bank Term Deposit - last updated: 26 March 2024

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What's hot
  • 5.05% p.a. rate for a 1-year term
  • Deposits up to $2,000,000
What's not
  • $6 Monthly Account Fee (unless you maintain a min. balance $5000 at all times, under 18 years or have held membership for less than 3 months)
Mozo snapshot

Offering competitive interest rates across terms from as little as three months up to five years, G&C Mutual Bank’s Term Deposit could be an option worth looking at for anyone with a long-term savings goal who’s happy to temporarily lock their money away.

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Key features

Available to savers with deposits ranging from as little as $1,000 all the way up to $2,000,000, G&C Mutual Bank’s Term Deposit offers a number of different terms to choose from: three months, six months, nine months, one year, two years, three years, four years or five years. 

The good news is that the interest rates on offer with the Term Deposit are currently pretty competitive across the board, with savers able to earn up to 5.05% p.a. on a 1 year term. 

G&C Mutual Bank also gives Term Deposit customers the option of having their interest paid out either monthly, annually or at maturity - though if you choose the monthly option your interest rate will be slightly lower. And on the topic of interest, it can’t be paid to another bank. 

Thinking about locking away a considerable sum of money? Well if you’re after a bit of a peace of mind, just remember that all deposits up to $250,000 per customer are guaranteed by the Australian Government under the Financial Claims Scheme.

Be aware that this account comes with a $6 monthly account fee (unless you maintain a min. balance $5000 at all times, under 18 years or have held membership for less than 3 months).

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Who is it good for

G&C Mutual Bank’s Term Deposit could provide a solid option for anyone looking to secure a guaranteed interest rate on their savings for a few months or years. 

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Any catches

Just remember, you’ll need a minimum deposit of $1,000 to be eligible for the Term Deposit. And at the end of your term your balance will be rolled over automatically, so it’s worth checking in on the competitiveness of your rate before that occurs by comparing it to other term deposits.   

Details

Rates and fees information correct as at 29 May 2024. 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

4.85% p.a. ($1,000 to $1,000,000)

5.20% p.a. ($1,000 to $2,000,000)

5.00% p.a. ($1,000 to $1,000,000)

5.05% p.a. ($1,000 to $2,000,000)

4.85% p.a. ($1,000 to $1,000,000)

4.85% p.a. ($1,000 to $1,000,000)

4.25% p.a. ($1,000 to $1,000,000)

4.25% p.a. ($1,000 to $1,000,000)

Other financial bits

$1,000.00

$2,000,000.00

Features

yes

yes

$6 Monthly Account Fee unless you maintain a min. balance $5000 at all times, under 18 years or have held membership for less than 3 months.

none

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

Customer Reviews

How are G&C Mutual Bank term deposits rated by the Mozo community?

Overall
7.4/10
Price
8.8/10
Features
8.0/10
Customer service
9.4/10
Convenience
9.2/10
Trust
9.8/10
Based on 5 G&C Mutual Bank term deposit reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest review of G&C Mutual Bank Term Deposit

About G&C Mutual Bank

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