Choose your own timeframe and enjoy the certainty of fixed rates
Your savings are secure
The Government’s Financial Claims Scheme guarantees deposits to a cap of $250,000 per account holder*. More info.
If you’re an existing Bank of Melbourne customer you may be eligible for a bonus rate on top of our standard rates.
Great for impulse control
Avoid the temptation to dip into your savings by locking away your savings for a fixed term.
You can open a Term Deposit with as little as $1,000.
* A Bank of Melbourne Term Deposit is a “protected account” under the Australian Government’s Financial Claims Scheme (FCS). Payments under the FCS are subject to a limit for each depositor.
Choose a rate and term
If you’re an existing Bank of Melbourne customer you may be eligible for a bonus rate on top of our standard rates. In the past you may have needed to go into a branch or give us a call – now you can see any bonus rates you’re eligible for simply by logging into Internet Banking.
You can now renew your Term Deposit online – there’s no need to give us a call or visit a branch. When your Term Deposit matures, you have 14 days to make any changes such as withdrawing your money or reinvesting for a new term.
Did you know you can now open your Term Deposit online?
When you open a Term Deposit online you’ll get access to the same rates as you would in branch. Simply logon to Internet Banking to find a rate that’s right for you. If you’re an existing Bank of Melbourne customer, you could also be eligible for a bonus rate on top of our standard rates.