Best rate (up to 1 year)
0.90% p.a.1 year
Minimum deposit
$1,000.00
Interest paid to another bank?
yes

Mozo editorial review UniBank Term Deposit

Last updated: 11 February 2021.

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What's hot
  • 2021 Mozo Experts Choice Award
  • 0.90% p.a for 12 month term
  • $0 account keeping fees
What's not
  • 31 days notice needed to access deposit prior to maturity
Mozo snapshot

Whether you've got a small or large savings stash the 2021 Mozo Experts Choice Award winning term deposit from UniBank could fit the bill. Not only does it have no account keeping fees it has competitive interest rates as high as 0.90% across a range of terms.

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Key features

Looking for a term deposit from a mutual bank? The UniBank term deposit could be a great pick to start making money off your money, and it’s the winner of a 2020 Mozo Experts Choice Award in the Short Term Deposit category.

With a minimum of $1,000 on hand (and a maximum of $499,999), you could start growing your money with a term deposit that has no account keeping fees and interest rates as high as 0.90% depending on the term you choose. Terms range from just 3 months up to 3 years.

Plus, for Edvest members or Rewards Package members UniBank offers 0.05% on top of the advertised rates. However, for non-members, the rate is reduced by 0.05%. 

If you wish to open the account with another person, then that’s always an option. Plus, you can choose to have the interest, which can be paid monthly, 12 monthly or at maturity on the Member, Rewards Package and Customer Term Deposits, paid into an account from another bank at no additional cost.

Just make sure to keep in mind if you do wish to withdraw your savings prior to maturity you will need to give up to 31 days notice in advance, and an interest adjustment will apply. 

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Who is it good for

Aussie savers with a minimum deposit of $1,000 who want to stash their money away in a straight forward term deposit.

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Any catches

Like other term deposits, the Unibank Term Deposit is designed to stash and save money, therefore you will have to give 31 days notice if you want to access your funds before your account reaches maturity.

Details

Rates and fees information correct as at 16 May 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
  • 0.75% p.a. ($1,000 to $499,999)

  • 0.75% p.a. ($1,000 to $499,999)

  • 0.75% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.80% p.a. ($1,000 to $499,999)

  • 0.90% p.a. ($1,000 to $499,999)

  • 0.90% p.a. ($1,000 to $499,999)

  • 0.90% p.a. ($1,000 to $499,999)

  • 0.90% p.a. ($1,000 to $499,999)

Other financial bits
  • $1,000.00

  • $499,999.00

Features
  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date. Non-members receive 0.05% lower rates.

  • none

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

Customer Reviews

How are UniBank term deposits rated by the Mozo community?

Overall
9.0/10
Price
8.4/10
Features
8.9/10
Customer service
9.4/10
Convenience
8.3/10
Trust
9.1/10

Latest review of UniBank Term Deposit

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About UniBank

UniBank is an independent, state based, customer owned credit society based on the principles of mutuality. Since its beginnings in 1964, UniBank has grown into a niche market provider of financial products and services in Western Australia. UniBank offers a full range of banking products and services, including savings, investment and loan accounts, as well as insurance, travel, international currency and financial planning services.

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