Best rate (up to 1 year)
0.85% p.a.6 months
Interest paid to another bank?
no

Mozo editorial review Qudos Bank Term Deposit

Last updated: 22 October 2020.

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What's hot
  • Solid 0.85% rate across 3 to 12 month terms
  • Automatic rollover
What's not
  • Interest paid to another bank unavailable
Mozo snapshot

Need to lock away your savings stash? The Qudos Bank Term Deposit could be the perfect place to put it. This term deposit comes with a solid 0.85% interest rate across its 3 to 12 month terms (minimum deposits apply). Once your term is up, if you don’t want to dip into your funds you can simply sit back, as there is an automatic rollover feature.

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Key features

Qudos Bank’s Term Deposit could be a great way to help your money grow, as you keep it out of sight and out of mind. There are a range of terms from as little as 3 months up to 3 years, plus customers can deposit anywhere between $2,000 and $1,000,000.  

For depositors looking to lock away upwards of $5,000, they can receive 0.85% p.a. interest rate across the 3, 6, 9, and 12 month terms. And customers with $10,000 or more can take advantage of this same rate across the 5, 7 and 11 month offerings as well. 

Bear in mind though, for savers looking to stash their cash for a little bit longer, rates drop down to 0.90% across the 2 and 3 year terms. 

Not ready to withdraw your funds once your term is up? Well, the Qudos Bank Term Deposit also comes with an automatic rollover feature for customers that decide not to dip into their stash once their term expires.

Just remember, any interest you make on this term deposit cannot be deposited into an account from another bank.  

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Who is it good for

This term deposit could be a good option for anyone looking to lock their funds away between 3 and 12 months and receive a solid interest rate in return.

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Any catches

For savers with a lump sum of under $5,000, rates are as low as 0.85%, so it may be worth considering another option.

Details

Rates and fees information correct as at 31 October 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
  • 0.85% p.a. ($2,000 to $4,999)

    0.85% p.a. ($5,000 to $1,000,000)

  • 0.85% p.a. ($10,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $1,000,000)

  • 0.85% p.a. ($10,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $1,000,000)

  • 0.85% p.a. ($10,000 to $1,000,000)

  • 0.85% p.a. ($5,000 to $1,000,000)

  • 0.90% p.a. ($5,000 to $1,000,000)

  • 0.90% p.a. ($5,000 to $1,000,000)

Other financial bits
  • $2,000.00

  • $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 Qudos Bank term deposits rated by the Mozo community?

Overall
7.1/10
Price
8.3/10
Features
6.8/10
Customer service
7.0/10
Convenience
7.1/10
Trust
7.1/10

Latest reviews of Qudos Bank Term Deposit

  • Overall 10/10
    Good Bonus and Qsaver accounts with high interest

    They have a good Qsaver bonus saver accounts with rewards of extra interest for keeping money in the bonus saver without withdrawing for the month. No fees and flexible.

    Read full review

    They have a good Qsaver bonus saver accounts with rewards of extra interest for keeping money in the bonus saver without withdrawing for the month. No fees and flexible.

    Price
    10/10
    Features
    10/10
    Customer service
    7/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Mozo community reviewer, New South Wales reviewed about 7 years ago
  • Overall 10/10
    Competitive and efficient customer service

    Efficient customer service. The Term deposit rates are more competitive than the big banks. I have banked with them for the last 10 years and I would recommend them to my friends and family. Being a Credit Union, prouduct features are much simplified and easy to work out.

    Read full review

    Efficient customer service. The Term deposit rates are more competitive than the big banks. I have banked with them for the last 10 years and I would recommend them to my friends and family. Being a Credit Union, prouduct features are much simplified and easy to work out.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Mozo community reviewer, New South Wales reviewed about 7 years ago
Qudos Bank

About Qudos Bank

Qudos Bank (previously Qantas Credit Union) is a customer owned bank and was established in 1959. Qudos Bank has an A2 investment grade rating and offers a full range of banking products including credit cards, home loans, personal loans and saving accounts.

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