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CHOOSE A TIMEFRAME. DEPOSIT YOUR MONEY.
KNOW THE OUTCOME.

A term deposit will give you certainty on the interest rate

you will earn on your money.

Invest with the certainty of a fixed interest rate. If you're happy to lock away funds for a set period of time, a term deposit will give you certainty on the interest rate you will earn on your money.

You also get

Interest options

Interest is calculated daily and can be paid at maturity, annually, half-yearly or monthly. The interest can be paid directly into your Bank of Melbourne bank account.

Maturity terms

A range of maturities from one month to 5 years (60 months).

Simple renewal

Easily renew online with internet banking at the end of your term.

Management through online banking

You can manage your Term Deposit online without having to call us or visit a branch simply through your account services

Feature rate


2.55 % P.A.

For 12 months

Special offer

On balances between $1,000 and $250,000 with interest paid on maturity. 

Our Term Deposits have
no setup, monthly or transaction fees

A term deposit lets you lock away your money for a set period of time (term).

If you break your term, you must give 31 days notice and there are conditions and penalties. Please read the detailed terms and conditions before making a decision.  

 

Interest Rates (12 months)

  • 2.55% p.a Interest paid at maturity/yearly
  • 2.50% p.a Interest paid half yearly
  • 2.50% p.a Interest paid monthly

Interest rates

  $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
1 to less than 2 months 1.50% p.a. 1.50% p.a. 1.50% p.a. 1.50% p.a. 1.50% p.a.
2 to less than 3 months 1.75% p.a. 1.75% p.a. 1.75% p.a. 1.75% p.a. 1.75% p.a.
3 to less than 4 months 2.10% p.a. 2.10% p.a. 2.10% p.a. 2.10% p.a. 2.10% p.a.
4 to less than 5 months 1.85% p.a. 1.85% p.a. 1.85% p.a. 1.85% p.a. 1.85% p.a.
5 to less than 6 months 1.85% p.a. 1.85% p.a. 1.85% p.a. 1.85% p.a. 1.85% p.a.
6 to less than 7 months 2.20% p.a. 2.20% p.a.. 2.20% p.a. 2.20% p.a. 2.20% p.a.
7 to less than 8 months 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a.
8 to less than 9 months 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a.
9 to less than 10 months 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a.
10 to less than 11 months 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a.
11 to less than 12 months 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a. 1.90% p.a.
12 months 2.55% p.a. 2.55% p.a. 2.55% p.a. 2.55% p.a. 2.55% p.a.

In Detail

Before making a decision, please read the Terms and Conditions and ensure you're aware of all access terms, break costs and applicable interest rates.

How to open or renew an account

1.

Read the Terms and Conditions

2.

Give yourself a few minutes

3.

Have your Tax File Number (TFN) ready