| Product | Best rate (up to 1 year) | Minimum Deposit | Interest paid to another bank? |
|---|---|---|---|
| Term Deposit |
5.15% p.a.6 months ($1,000 to $) |
$1,000.00 |
no |
Mozo users have rated Gateway Bank term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
8 Reviews
Gateway Bank currently offers a market leading 1 year term but if you are not an existing customer be warned that this rate is an illusion as opening a term deposit with them is very difficult. My experience is that I transferred my funds to Gateway Bank as they instructed and have heard nothing from them since. I have phoned them and spoken to someone who could offer no assistance and just took down my details. I have since emailed Gateway Bank twice to confirm their receipt of my funds and got no response. I am now going to have to lodge a complaint and potentially go to the Australian Financial Complaints Authority if I cannot get a satisfactory response. I strongly recommend new customers avoid Gateway Bank as the small amount by which their term deposit rate leads competent competitors is quickly lost with your money sitting idle earning nothing while you try to find a staff member who is able to open the account.
Read full reviewGateway Bank currently offers a market leading 1 year term but if you are not an existing customer be warned that this rate is an illusion as opening a term deposit with them is very difficult. My experience is that I transferred my funds to Gateway Bank as they instructed and have heard nothing from them since. I have phoned them and spoken to someone who could offer no assistance and just took down my details. I have since emailed Gateway Bank twice to confirm their receipt of my funds and got no response. I am now going to have to lodge a complaint and potentially go to the Australian Financial Complaints Authority if I cannot get a satisfactory response. I strongly recommend new customers avoid Gateway Bank as the small amount by which their term deposit rate leads competent competitors is quickly lost with your money sitting idle earning nothing while you try to find a staff member who is able to open the account.
Gateway Credit Union operates almost exclusively online. It has an office in Sydney but has managed to set up policies and procedures that make online banking very easy. I have been a customer for over 30 years (previously known as CBAO credit union) and have had a home loan through them and am now able to enjoy their term deposit accounts. No fees and usually the highest rates on offer. Many options for interest payments and we always get notified before maturity. A very happy customer.
Read full reviewGateway Credit Union operates almost exclusively online. It has an office in Sydney but has managed to set up policies and procedures that make online banking very easy. I have been a customer for over 30 years (previously known as CBAO credit union) and have had a home loan through them and am now able to enjoy their term deposit accounts. No fees and usually the highest rates on offer. Many options for interest payments and we always get notified before maturity. A very happy customer.
ALthough not the leading interest rates for tem deposits, they are steady and reliable and no fees
Read full reviewALthough not the leading interest rates for tem deposits, they are steady and reliable and no fees