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Term Deposits

Out of sight, out of mind. Put money away, out of temptation’s way and watch it grow

  • Earn  p.a. for 6 months on balances between $5,000 and $5,000,000 with interest paid at maturity1
  • Get a guaranteed return with no set-up or monthly service fees1
  • Suitable for DIY Super / Self Managed Super Funds and business customers
Apply now

Secure cash investment

  • Invest your cash securely and get a guaranteed return1
  • Calculate what you could earn

Competitive interest rates

  • Earn competitive rates for a term that suits your needs – from 1 month to 5 years
  • Interest is calculated daily on the full account balance, and varies according to the term

Special offers

  • Earn  p.a. for 6 months on balances between $5,000 and $5,000,000 with interest paid at maturity1

 

Apply online

  • Use BPAY® to fund your opening deposit when you apply

Minimum investment

  • $1,000 minimum investment for a minimum term of 1 month

Automatic renewal on maturity

  • Your options at maturity include automatic re-investment, closing the account or changing account details.

Interest paid at maturity.  Interest rates are % per annum.

  $1,000 to less than $5,000 $5,000 to less than $20,000 $20,000 to less than $50,000 $50,000 to less than $100,000 $100,000 to less than $250,000 $250,000 to less than $5,000,000
1 to less than 2 months
2 to less than 3 months
3 to less than 4 months
4 to less than 5 months
5 to less than 6 months
6 to less than 7 months
7 to less than 8 months
8 to less than 9 months
9 to less than 10 months
10 to less than 11 months
11 to less than 12 months
12 months

 

Interest paid annually.  Interest rates are % per annum.

  $1,000 to less than $5,000 $5,000 to less than $20,000 $20,000 to less than $50,000 $50,000 to less than $100,000 $100,000 to less than $250,000 $250,000 to less than $5,000,000
24 to less than 36 months
36 to less than 48 months
48 to less than 60 months
60 months

 

Interest paid half yearly.  Interest rates are % per annum.

  $1,000 to less than $5,000 $5,000 to less than $20,000 $20,000 to less than $50,000 $50,000 to less than $100,000 $100,000 to less than $250,000 $250,000 to less than $5,000,000
12 to less than 24 months
24 to less than 36 months
36 to less than 48 months
48 to less than 60 months
60 months

 

Interest paid monthly.  Interest rates are % per annum.

  $1,000 to less than $5,000 $5,000 to less than $20,000 $20,000 to less than $50,000 $50,000 to less than $100,000 $100,000 to less than $250,000 $250,000 to less than $5,000,000
6 to less than 7 months
7 to less than 8 months
8 to less than 9 months
9 to less than 10 months
10 to less than 11 months
11 to less than 12 months
12 to less than 24 months
24 to less than 36 months
36 to less than 48 months
48 to less than 60 months
60 months

Access to your Term Deposit

Term Deposits work best as an investment strategy when you're prepared to invest your money for a Fixed Term. It's an investment that rewards you for not making withdrawals while earning a great competitive rate.

Deposits

  • Fund your opening balance using BPAY®, whether you've opened your Term Deposit online, over the phone or in branch
  • When re-investing your Term Deposit at maturity, use BPAY® to add extra funds

Withdrawals

  • You can withdraw or reinvest the balance of your account when the term ends
  • You are able to withdraw funds during the term, but your interest rate will be reduced. See our Terms and Conditions for more details.

View your Term Deposit details 24/7 2

3 easy options when your investment matures

Term Deposit Reinvestment options

What could you earn?

Apply online

  • Apply now
  • You can fund your Opening Deposit by BPAY®

Open a Term Deposit via your smart phone

  • Log on to m.bankofmelbourne.com.au on your smart phone and choose “Open a Term Deposit”
  • Or go to the App on your Smart Phone and choose ”Open a Term Deposit, you can view our special rates, open an account and register for online banking if you are not already registered

Call us

13 22 66 and say "new account" when prompted

Visit a branch

Find your nearest branch

What you'll need

  • Contact details (address, phone number, email address)
  • Tax File Number for customers new to Bank of Melbourne

Tips

  • You can fund your opening deposit within 3 business days by BPAY® whether you've opened your Term Deposit online, over the phone or at a Bank of Melbourne branch
  • You need a minimum amount of $1,000 for a minimum 1 month term to open a Term Deposit. The maximum balance is $5 million. 
  • Calculate what you could earn by investing in a Term Deposit
  • Calculate and graph your earnings including interest
  • New to Bank of Melbourne? To open a bank account in Australia, you'll need to confirm your identity

The Detail

Conditions apply.

Special rates will apply for a single term. Standard Term Deposit rates may apply for any subsequent term. Special rates are not available for corporate, institutional or government customers. 

Before making a decision, it's best to read the terms and conditions.

Please read these documents and keep a copy. You can request a paper copy at a branch or by post.

The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it’s right for you. If you need help, call 13 22 66.

BPAY® Registered to BPAY Pty Ltd ABN 89 079 137 518 

1. Following lodgement of the minimum balance requirement, the rate is guaranteed for the term of the investment, subject to terms and conditions (e.g. returns may be reduced if an amount is withdrawn before maturity).
2. Subject to systems availability.