What are the current AMP Bank business term deposit rates?
Term deposit interest rates are subject to frequent market change. To view the most current AMP Bank business term deposit rates, it’s best to view the provider’s website directly.
If you want to earn competitive rates on your fixed deposits for an amount between $100,000 and $500,000, AMP Bank deposit may worth considering. Term deposits with AMP Bank allow you to earn reliable returns for different tenures between one month and five years.
You can also choose when you want to receive the interest; monthly, quarterly, or half-yearly. If you wait until maturity, you’ll earn the full interest.
AMP Bank term deposits do not charge monthly maintenance fees. If you’re at least 13 years and an Australian citizen with a local address, you’re eligible for AMP Bank term deposit.
What are ME Bank’s term deposit interest rates for businesses?
ME Bank offers a variety of rates for business term deposits, depending on the amount of time you choose. You won’t have to pay any set-up or account-keeping fees for your business deposit. You can invest as little as $5,000 or as much as $2 million with a term duration between one and 60 months.
The ME business term deposit rate is determined based on the term and when you wish to receive interest payments.
While rates are set by the lender, you should always check with ME Bank to find out what the term deposit rates are, and which are applicable to your situation.
What are Bendigo Bank’s business term deposit rates?
Bendigo Bank offers businesses two types of term deposits - Standard and Gold. You can open a Standard term deposit by investing at least the specified minimum amount for a flexible investment period ranging up to five years. A Gold term deposit requires a larger minimum investment over a fixed term, which is currently one year.
However, you can’t add funds to a Standard term deposit after the first seven days, and any withdrawals before the review date need to be done on request. If you’ve opened a Gold term deposit, you can add more funds over the year, but withdrawals may be restricted just as with a standard term deposit.
A Standard term deposit’s interest rate depends on the amount deposited, the frequency of compounding interest, and the deposit term. Further, this interest rate may apply irrespective of how often interest is compounded. On the other hand, Gold term deposits usually offer a flat interest rate no matter how large or small the deposit, with the interest likely compounded every quarter.
To find out about Bendigo Bank’s current business term deposit rates, visit the banks’ website.
What should I know about ING’s business term deposit rates?
ING Direct offers several term deposit options for businesses looking to save over some time.
The business term deposit rates ING offers are compounded annually, meaning that the interest earned after the first year is added to the amount you originally deposited.
During the second year, the interest is calculated on the new amount. If you close the term deposit once it matures, you can ask for the money to be transferred to your business account either with ING or another bank. You can also renew the term deposit and choose to reinvest the total amount earned through the earlier term deposit. Alternatively, you can opt to renew with just the sum you originally deposited, and withdraw the interest earned.
You’ll need to deposit a minimum of $10,000 for at least 90 days if you open a term deposit with ING. In the current low-interest environment*, the annualised interest rate for a 90-day deposit is 0.05 per cent. This means you’d earn $1.25 over a three-month term if you deposit $10,000.
If you opted for a longer time frame, such as two years, you’d get an annualised interest rate of 0.30 per cent on your deposit. If you deposited $10,000, in two years the interest accrued would amount to approximately $60. Again, this is an estimate only based on current rates.
* Rates correct as of January 2021
What can a Westpac business term deposit offer me?
If you have a business registered in Australia, you can earn fixed returns on your funds with a Westpac business term deposit. These accounts are offered for a minimum investment amount of $50,000.
Westpac business term deposit interest rates vary based on the term and interest payment frequency that you select.
If you are a Westpac customer and use online banking, you can apply for a Westpac business term deposit online. If you don't have a Westpac account currently, you need to speak with a business banker to discuss your term and repayment options. You can find details on this webpage and can ‘request a callback’ from someone in the business team.
If you are an existing customer you may be eligible for a bonus rate on top of the standard Westpac bank business term deposit rates. You can log in to your bank account to check whether your banking records qualify you for extra interest.
If you open a deposit and need to access your locked funds before the maturity of your term deposit, you must provide 31 days of notice, except in cases of hardship.
What are Bankwest business term deposit rates?
Looking to invest some of your business funds with a fixed interest rate? You could consider a business term deposit with Bankwest. Bankwest calls these accounts Business TD Direct, and accepts deposits of amounts between $10,000 and $2,000,000.
When it comes to Bankwest term deposit rates for business, you can find information here. If you choose a term of over a year, you can ask for interest to be paid monthly, quarterly, biannually or annually. The Bankwest business term deposit rates do, however, vary based on the term length you choose.
If you need the funds before your term deposit’s maturity date, you need to give 31 days notice. Also withdrawing the funds will impact the interest you earn.
You can contact a Bankwest business banking specialist by calling on 13 7000 and get more details about business term deposits.
What are Suncorp Bank's term deposit rates for businesses?
A term deposit with Suncorp Bank allows you to lock away a specific amount of money at a fixed interest rate for a nominated period. You will need to make a minimum investment of $5,000 and up to $2,000,000, and can select a period from one month to 36 for your investment. Term deposit investments ranging from one to 12 months are based on interest paid at maturity, while investments from 12 to 36 months are based on interest paid annually.
While the interest rate will differ based on your investment amount and term duration, here are some of the most popular Suncorp Bank business term deposit rates as of January 2021:
|4 Months||0.50% p.a.||0.55% p.a.||0.60% p.a.|
|7 Months||0.55% p.a.||0.60% p.a.||0.65% p.a.|
|12 Months||0.50% p.a.||0.55% p.a.||0.60% p.a.|
|24 Months||0.65% p.a.||0.70% p.a.||0.75% p.a.|
Please note that these interest rates are effective from 13th November 2020 and are subject to change without notice. Moreover, if you choose from an early withdrawal, the interest rate will be adjusted, and other charges are likely to be applied.
What are BOQ term deposit rates for businesses?
As term deposits are rising in popularity, many banks are offering competitive term deposit interest rates. Among them is BOQ, which offers the term deposit rates for new funds and rollovers. You don’t need to pay any establishment or account keeping fees,] and you can re-invest, add extra money or withdraw money at the end of your term without any hassles.
BOQ gives you the option to invest your funds in terms ranging from 30 days to five years. The BOQ business term deposit rates vary based on the term duration.
|Term length||Interest rate||Interest paid|
|90 days||0.55 per cent||At maturity|
|120 days||0.50 per cent||At maturity|
|180 days||0.70 per cent||At maturity|
|270 days||0.60 per cent||At maturity|
|1 year||0.60 per cent||At maturity|
|2 years||0.65 per cent||Annually|
|3 years||0.70 per cent||Annually|
|5 years||0.75 per cent||Annually|
Rates are current as at 21/01/21, but subject to change.