7.3/10

Based on 644 MyState Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

MyState Bank term deposits

MyState Bank is an Authorised Deposit-taking Institution and a national diversified financial services group headquartered in Tasmania. MyState Bank has strong roots in the Tasmanian community and offers financial planning, insurance, banking products, and term deposits.

MyState Bank offers the following term deposits

Rates and fees verified as correct at 13 July 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Best rate (up to 1 year) Minimum Deposit Interest paid to another bank?  
Income Deposit Account

p.a. ( to )

$5,000.00

yes

Online Term Deposit

5.10% p.a.5 months ($5,000 to $5,000,000)

$5,000.00

yes

Go to site
Term Deposit

5.10% p.a.5 months ($5,000 to $5,000,000)

$5,000.00

yes

How are MyState Bank term deposits rated?

Mozo users have rated MyState Bank term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of term-deposits
MyState Bank term deposits customer reviews
Overall
8.2/10
Price
8.2/10
Features
7.2/10
Customer service
8.4/10
Convenience
8.2/10
Trust
8.3/10
Based on 32 MyState Bank product 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.

Recent MyState Bank term deposit reviews

MyState Bank Term Deposit
Overall 9/10
Great Term Deposit with fantastic service

Fantastic bank providing very competitive Term Deposit rates. I was able to get a rate of 6.10% for a 12 month Term Deposit. Wonderful to talk to and provided all answers to my inquiries promptly .

Read full review

Fantastic bank providing very competitive Term Deposit rates. I was able to get a rate of 6.10% for a 12 month Term Deposit. Wonderful to talk to and provided all answers to my inquiries promptly .

Price
10/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Mark, Victoria, reviewed about 1 year ago
MyState Bank Term Deposit
Overall 1/10
Funds not returned.

Investor Beware I have been sent an official document on MyState letterhead dated August 31st 2022 and signed by a so called executive (who is far to superior to receive my phone calls) advising me that my term deposit account is being closed and funds are being returned to my nominated account due to an agreement ceasing with my superannuation manager. My case has now been handballed to another employee who again is far too superior to answer my emails or phone calls and hence still no funds have been returned. They are now ten days overdue!!

Read full review

Investor Beware I have been sent an official document on MyState letterhead dated August 31st 2022 and signed by a so called executive (who is far to superior to receive my phone calls) advising me that my term deposit account is being closed and funds are being returned to my nominated account due to an agreement ceasing with my superannuation manager. My case has now been handballed to another employee who again is far too superior to answer my emails or phone calls and hence still no funds have been returned. They are now ten days overdue!!

Customer service
1/10
Convenience
1/10
Trust
1/10
Less
George, Victoria, reviewed almost 2 years ago
MyState Bank Term Deposit
Overall 1/10
Dont bother. There are much better banks around.

Appalling that Im not able to sacrifice all interest earned to withdraw my term deposit before maturity. Why not tell me this before making me fill out and submit forms which were a waste of time? Terrible customer service. Won't trust them with a cent of my money in the future.

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Appalling that Im not able to sacrifice all interest earned to withdraw my term deposit before maturity. Why not tell me this before making me fill out and submit forms which were a waste of time? Terrible customer service. Won't trust them with a cent of my money in the future.

Price
3/10
Features
1/10
Customer service
2/10
Convenience
1/10
Trust
1/10
Less
Sue, Western Australia, reviewed over 3 years ago
MyState Bank Term Deposit
Overall 9/10
Friendly and professional service.

Friendly and professional care and advice given when face to face in branch (Launceston). Easy to navigate their online services - in particular when setting up an online term deposit.

Read full review

Friendly and professional care and advice given when face to face in branch (Launceston). Easy to navigate their online services - in particular when setting up an online term deposit.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Christopher, Tasmania, reviewed almost 4 years ago
See all term deposit reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Term deposit quick links