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- Term Deposit
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.
Features
Interest
Interest Calculation Frequency
Daily
Interest Payment Frequency Options
Annually, At Maturity
Interest payment via other institution
Interest payment method
-
Interest
Fees
Account keeping fee
$0
Early withdrawal fee
-
Fees
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%
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