The details shown below are for the Online Term Deposit
The details shown below are for the Term Deposit
The details shown below are for the Income Deposit Account
Choose the version of this loan that suits you best
| Name | |
|---|---|
| | Online Term Deposit |
| | Term Deposit |
| | Income Deposit Account |
Online Term Deposit
Term Deposit
Income Deposit Account
If you’re looking for a low risk way to earn a high interest rate in the short term, then you may want to consider a MyState Bank Term Deposit. MyState Bank offers great short term interest rates, such as 1.25% interest for 7 month and 1.25% for 1 year. There are a couple of different account options so you can choose the one that’s right for you, but keep in mind, they don’t offer any term periods longer than 2 years.
MyState Bank Term Deposits are only available for terms of up to 2 years, but these short term rates are definitely worth checking out for the generous return on your savings. Especially take note of the 1.25% interest for a 7 month and 1.25% for 1 year rates.
MyState Bank offers a couple different account options for their term deposits. First there’s the standard Term Deposit, and for technophiles, the Online Term Deposit account is much the same, but it needs to be opened and managed online.
These both differ slightly from MyState Bank Income Term Deposit, which lets you have your interest regularly deposited into your bank account, instead of waiting for the term deposit to mature.
With all of these options, you’ll have the option to have your interest paid into an account at MyState Bank, or with a different bank completely. This gives your interest earnings more flexibility to fit your saving desires.
You can also set up your account to automatically rollover once the term period is up. This will also happen if you don’t give instructions for what happens when your term deposit matures, but you may find yourself with a lower interest rate, as the market varies MyState Bank Term Deposits interest rate might change. So make sure you let the bank know your wishes before the maturity date rolls around.
As the MyState Bank Term Deposit has a number of high interest short term options, those wanting a quick boost to their savings, especially anyone looking for 3 or 6 month terms will be able to snag a bumper return on their stash.
If you do decide to go with the Income Term Deposit, you’ll find that you can only get 1 or 2 year loan periods, and their interest rates are slightly lower than their Term Deposit counterparts.
0.20% p.a. ($5,000 to $5,000,000)
0.30% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
1.20% p.a. ($5,000 to $5,000,000)
0.80% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
1.25% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
1.25% p.a. ($5,000 to $5,000,000)
1.05% p.a. ($5,000 to $5,000,000)
$5,000.00
$5,000,000.00
direct credit
yes
yes
Account must be opened online
none
0.20% p.a. ($5,000 to $5,000,000)
0.30% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
1.20% p.a. ($5,000 to $5,000,000)
0.80% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
1.25% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
0.95% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
0.75% p.a. ($5,000 to $5,000,000)
1.25% p.a. ($5,000 to $5,000,000)
1.05% p.a. ($5,000 to $5,000,000)
$5,000.00
$5,000,000.00
direct credit
yes
yes
none
none
1.25% p.a. ($5,000 to $5,000,000)
1.05% p.a. ($5,000 to $5,000,000)
1.05% p.a. ($5,000 to $5,000,000)
$5,000.00
$5,000,000.00
direct credit, cheque
yes
yes
none
none
After most of my life dealing with major banks, 25 years ago I transferred all my banking to Police, Fireman & Teachers Credit Union, now Mystate. Over the last years they have handled all my banking, the staff are great, fees are very good. In your words they are awesome.
Read full reviewAfter most of my life dealing with major banks, 25 years ago I transferred all my banking to Police, Fireman & Teachers Credit Union, now Mystate. Over the last years they have handled all my banking, the staff are great, fees are very good. In your words they are awesome.
This is very good if you do not need to acces your money in a hurry.
Read full reviewThis is very good if you do not need to acces your money in a hurry.
Very friendly staff in local branch who are always willing to listen and help. Will match interest rates from other institutions to give you best possible return and will waver other incurred costs if they are not your fault. Always available on their own phone line so you can avoid attempting to work through the frustrating call centre.
Read full reviewVery friendly staff in local branch who are always willing to listen and help. Will match interest rates from other institutions to give you best possible return and will waver other incurred costs if they are not your fault. Always available on their own phone line so you can avoid attempting to work through the frustrating call centre.
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, offering lending, savings accounts, financial planning and insurance.