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Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by phone

Interest rate

1.25%

Maximum rate

4.30%

for 12 months

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by phone

Interest rate

1.25%

Maximum rate

4.30%

for 12 months

Pros and Cons

For Term Deposit

Benefits

  • Interest can be paid to other institution
  • Automatic maturity rollover
  • Maturity alert by phone

Drawbacks

  • 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds

Bank of Melbourne Rate Term Deposit overview

For Term Deposit

Features

Min deposit

$1,000

Automatic maturity rollover

Maturity alert by phone

Maturity alert by email

Joint application available

Minimum Age Requirement

-

Notice period to withdraw

31

Is covered by government guarantee

Target Market Determination

Visit Bank of Melbourne to view Target Market Determination.

Interest

Interest Calculation Frequency

Daily

Interest Payment Frequency Options

Annually, At Maturity

Interest payment via other institution

Interest payment method

Cheque, Direct Credit, Rollover on maturity

Fees

Account keeping fee

$0

Early withdrawal fee

-

Rates

TermRates on deposit of ($1,000 - $2,000,000)
1 month1.25%
2 months1.45%
3 months3.55%
4 months3.60%
5 months3.70%
6 months3.80%
7 months3.85%
8 months3.90%
9 months4.05%
10 months4.05%
11 months4.05%
1 year4.30%
2 years4.05%
3 years4.05%
4 years4.05%
5 years4.05%

How to apply

If you'd like to apply for this term deposit or just get more information, follow the application process to speak to an Bank of Melbourne mortgage specialist.