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Mini meca 2021

Qudos Bank Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.65% p.a.1 year
Minimum deposit
$2,000.00
Interest paid to another bank?
no

Mozo editorial review Qudos Bank Term Deposit - last updated: 5 August 2021

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What's hot
  • Solid 0.65% interest rate for 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 0.65% p.a. interest rate for its 12 month term (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.  

Rates for depositors looking to lock away upwards of $5,000 are:

• 0.65% p.a. for a 12 month term

• 0.50% p.a. for 6 and 9 month terms

• 0.55% p.a. for 2 and 3 year terms

• 0.45% p.a. for a 3 month term

Customers with deposit of $10,000 or more can also benefit from the above rates, plus a 0.50% p.a. interest rate for 5 and 7 month terms and a 0.55% p.a. interest rate for 11 month 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 0.45%, so it may be worth considering another option.

Details

Rates and fees information correct as at 16 October 2021. 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

0.45% p.a. ($2,000 to $4,999)

0.45% p.a. ($5,000 to $1,000,000)

0.50% p.a. ($10,000 to $1,000,000)

0.50% p.a. ($5,000 to $1,000,000)

0.50% p.a. ($10,000 to $1,000,000)

0.50% p.a. ($5,000 to $1,000,000)

0.55% p.a. ($10,000 to $1,000,000)

0.65% p.a. ($5,000 to $1,000,000)

0.55% p.a. ($5,000 to $1,000,000)

0.55% p.a. ($5,000 to $1,000,000)

Other financial bits

$2,000.00

$1,000,000.00

Features

no

yes

none

none

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

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