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Illawarra Credit Union Term Deposit

Advertiser disclosure
The details shown below are for the 6 Months Term Deposit Special
The details shown below are for the Term Deposit

Choose the version of this product that suits you best

Name
6 Months Term Deposit Special
Term Deposit
  • 6 Months Term Deposit Special
  • Term Deposit
Best rate (up to 1 year)
5.00% p.a.6 months ($50,000 to $)
Minimum Deposit
$50,000.00
Interest paid to another bank?
no
Best rate (up to 1 year)
5.10% p.a.1 year ($1,000 to $)
Minimum Deposit
$1,000.00
Interest paid to another bank?
no

Mozo editorial review Illawarra Credit Union Term Deposit - last updated: 12 July 2024

binocular icon
What's hot
  • Apply for a term deposit within minutes through internet banking
  • Flexible investment term periods
What's not
  • Lower rates for shorter terms
Mozo snapshot

If you’re saving for a big event or a big purchase in 3 months, 6 months or even a year, a term deposit poses a fairly low risk way to stash funds away for a fixed period of time and earn interest. With Illawarra Credit Union’s term deposit you can even keep as little as $1,000 under lock and key for 12 months and earn 5.10% p.a. interest. 

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Key features

The main attraction of a term deposit is the ability to hide away a certain amount of funds for a fixed period of time with a fixed interest rate. So the main questions when investing in one will most likely be: what are the interest rates and how long can money be locked away?

If you’re looking to stow funds away for a shorter period of time (1-8 months), Illawarra Credit Union has rates of up to 5.00% interest. 

Applying for a term deposit shorter than 12 months should only take you about 10 minutes to do online (granted you’ll have to apply to become a member of the Illawarra Credit Union first, if you aren’t already one). 

Just remember to access these rates you'll need to be locking away at least $25,000 new money, so you should be prepared with other savings for your day-to-day needs and bills that may crop up during that time.


snapshot
Who is it good for

Illawarra Credit Union’s term deposit could be a good fit for you if you constantly find yourself dipping into your savings and you want to take away the temptation of spending those hard earned, extra dollars.

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Any catches

Releasing funds before the fixed term of the term deposit is up will incur a fee and you may not receive as much interest as you would if you waited for the term to end. You will also have to give 7 days notice to withdraw funds early. 

Details

Rates and fees information correct as at 16 July 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

5.00% p.a. ($50,000+)

Other financial bits

$50,000.00

none

Features

no

yes

5.00% 6 month special offer rate for personal customers only, must have an Everyday, Everyday Student or Everyday Plus account.

none

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

Details

Rates and fees information correct as at 16 July 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

1.75% p.a. ($1,000+)

1.75% p.a. ($1,000+)

4.20% p.a. ($1,000+)

4.30% p.a. ($1,000+)

4.30% p.a. ($1,000+)

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

4.50% p.a. ($1,000+)

4.50% p.a. ($1,000+)

4.50% p.a. ($1,000+)

4.50% p.a. ($1,000+)

4.50% p.a. ($1,000+)

5.10% p.a. ($1,000+)

Other financial bits

$1,000.00

none

Features

no

yes

none

none

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

Customer Reviews

How are Illawarra Credit Union term deposits rated by the Mozo community?

Overall
8.0/10
Price
6.5/10
Features
5.5/10
Customer service
5.0/10
Convenience
5.5/10
Trust
10.0/10
Based on 2 Illawarra Credit Union 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.

About Illawarra Credit Union

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5.00% p.a.

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Yes up to $250,000

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Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

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5.10% p.a.

$10,000.00

Yes up to $250,000

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Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

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