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Police Credit Union Term Deposit

Best rate (up to 1 year)
1.15% p.a.4 months
Interest paid to another bank?
no

Mozo editorial review Police Credit Union Term Deposit

Last updated: 1 July 2020.

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What's hot
  • 1.15% p.a. for 4 month terms (balances from $50,000 to $1 million)
  • Range of terms from 2 months to 4 years
  • Receive interest via direct credit or cheque
What's not
  • Interest rates depend on how often you’d like to receive payments and how you choose to have them paid to you
Mozo snapshot

With competitive interest rates available on deposits over $50,000, the Police Credit Union’s Term Deposit might be worth considering for anyone looking to lock away a slightly larger sum of money. As little as $5,000 to as much as $1 million can be stashed away for anywhere between two months and four years with interest rates going as high as 1.15% p.a.

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Key features

If you’re after the security that comes with locking in your rate, then you may be interested in checking out the Police Credit Union Term Deposit. This particular term deposit comes with a range of terms to choose from and a number of competitive rates to match. 

Of course, with that in mind these more competitive rates are only available on balances over $50,000 with interest paid out at maturity. Rates differ by as much as 0.20% for balances over $50,000 and under $49,999. Other competitive rates with this term deposit include:

  • 4 months - 1.15% p.a. for balances between $5,000 and $49,999 

  • 1 year - 0.85% p.a. (1.00% p.a. for balances between $5,000 and $49,999) 

Plus if you’re a Master Club Member (special package for members aged 60 and over), then you may even be eligible to receive an extra 0.05% on top of the standard rate (excludes special offers).

Finally, if you have a term between two and twelve months your little nest egg will be paid out to you at maturity. However, if you have a longer term - between twelve months and four years, you can opt to have your interest paid to you monthly, quarterly, yearly or on maturity. That said, your interest rate could be reduced by as much as 0.50% p.a to 0.10% p.a., depending on whether you choose to have monthly or quarterly interest payments and how you choose to have your interest paid to you. Interest is paid via direct debit or cheque, although the latter may see your interest rate go down considerably.


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Who is it good for

This particular term deposit may be more suited to someone looking to lock away a large amount of money, who already has an account with the Police Credit Union or is willing to get one. 

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Any catches

Interest rates can vary greatly depending on how often you choose to have your interest paid to you, whether you have a Police Credit Union transaction account to pay it in to, or if you opt to receive it via cheque.

Details

Rates and fees information correct as at 11 August 2020. 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
  • 0.35% p.a. ($5,000 to $49,999)

    0.45% p.a. ($50,000 to $1,000,000)

  • 0.75% p.a. ($5,000 to $49,999)

    0.80% p.a. ($50,000 to $1,000,000)

  • 1.15% p.a. ($50,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $49,999)

    0.95% p.a. ($50,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $49,999)

    1.00% p.a. ($50,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $49,999)

    1.00% p.a. ($50,000 to $1,000,000)

  • 0.90% p.a. ($5,000 to $49,999)

    1.10% p.a. ($50,000 to $1,000,000)

  • 0.90% p.a. ($5,000 to $49,999)

    1.10% p.a. ($50,000 to $1,000,000)

  • 0.90% p.a. ($5,000 to $49,999)

    1.10% p.a. ($50,000 to $1,000,000)

Other financial bits
  • $5,000.00

  • $1,000,000.00

Features
  • Direct Credit, Cheque

  • no

  • yes

  • none

  • none

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

Customer Reviews

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

Overall customer rating
8.5/10
Price
7.8/10
Features
6.7/10
Customer service
9.0/10
Convenience
7.0/10
Trust
9.0/10

Latest review of Police Credit Union Term Deposit

  • Overall 6/10
    Honest with quick and reliable service

    I have been with this Credit Union for over thirty years and they have always been truthful and upfront with their help and information, even although they have apparently not given the best available interest rates at the time. Unfortunately, all other financial institutions that I have dealt have not been truthful for the duration of the deposit. Police Credit Union are the most honest to deal with.

    Read full review

    I have been with this Credit Union for over thirty years and they have always been truthful and upfront with their help and information, even although they have apparently not given the best available interest rates at the time. Unfortunately, all other financial institutions that I have dealt have not been truthful for the duration of the deposit. Police Credit Union are the most honest to deal with.

    Price
    4/10
    Features
    1/10
    Customer service
    9/10
    Convenience
    5/10
    Trust
    7/10
    Less
    Mozo community reviewer, Victoria reviewed almost 7 years ago
Police Credit Union

About Police Credit Union

Police Credit Union SA/NT provides its members with flexible and fair rate financial products, offering term deposits, savings accounts, home loans, personal loans, debt consolidation, and financial planning services.

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