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Term Deposit

  • 3 months
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

4.55%

Maximum rate

4.65%

for 6 months

Term Deposit

  • 3 months
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

4.55%

Maximum rate

4.65%

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

$50,000

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 First - Victoria Teachers Limited 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

-

Fees

Account keeping fee

$0

Early withdrawal fee

-

Rates

TermRates on deposit of ($500 - $19,999)Rates on deposit of ($20,000 - $49,999)Rates on deposit of ($50,000 - $99,999,999)
3 months4.55%4.55%4.55%
4 months4.55%4.55%4.55%
6 months4.65%4.65%4.65%
9 months4.65%4.65%4.65%
1 year4.65%4.65%4.65%
2 years4.00%4.00%4.00%
3 years4.00%4.00%4.00%
4 years4.00%4.00%4.00%
5 years4.00%4.00%4.00%

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

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 First mortgage specialist.