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- Term Deposit
Term Deposit
- 3 months
- Automatic maturity rollover
- Joint application available
- Maturity alert by email
Interest rate
4.60%
Maximum rate
4.75%
for 6 months
Term Deposit
- 3 months
- Automatic maturity rollover
- Joint application available
- Maturity alert by email
Interest rate
4.60%
Maximum rate
4.75%
for 6 months
Pros and Cons
For Term Deposit
Benefits
- 12 month interest rate (for $50k deposit) ranked in the best 20%
- Interest can be paid to other institution
- Automatic maturity rollover
- Maturity alert by email
Drawbacks
- 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds
Bank First Rate Term Deposit overview
For Term Deposit
Features
Min deposit
$500
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
Interest
Interest calculation frequency
Daily
Interest payment frequency options
Annually, At Maturity
Interest payment via other institution
Interest payment method
-
Fees
Account keeping fee
$0
Early withdrawal fee
Rates
Other Restrictions
Early withdrawals require an advance notice period of 31 days where the investment period is 2 years or less at the time of withdrawal; or 7 days where the investment period is more than 2 years at the time of withdrawal