company logo

MyState Bank Term Deposits

On 1 July 2007, two co-operatives - islandstate and connect financial - merged to form what is now known as MyState Bank. From its Tasmanian roots, MyState Bank has grown to over 144,000 members. Their managed assets stand at more than $1.8 billion. MyState Bank provides their community with financial products and solutions which include home loans, term deposits, savings accounts and transaction accounts.

MyState Bank term deposit interest calculator

Thinking about taking out a term deposit with MyState Bank? Use our term deposit calculator to see how much you can earn under different investment scenarios. You can also see how MyState Bank term deposits compare with other options.

Deposit Amount

Savings Duration

months

MyState Bank Term Deposits rates

1 - 2 of 2
Product
Interest rate
Min. deposit
Next rate increased
Max rate
Balance Amount
Features
Go To Site
More Info
Compare

More details

More Info
Compare

More details

FAQs

You may have heard that a term deposit is a type of investment, different to a traditional savings account. All investment comes with inherent risk, so it’s important to know how safe a term deposit is before committing.

Term deposits offer a fixed interest rate which is guaranteed, so you do not have to worry about rising or falling interest rates when investing. You can add up how much interest you will earn over your fixed term, and this will be paid into your account per the conditions of your term deposit.

Term deposits with authorised deposit-taking institutions are also guaranteed for up to $250,000 by the Financial Claims Scheme, so you don’t have to worry about the bank collapsing either.

The only inherent risk of a term deposit is if you may need to break it early. If this happens, you will need to pay a breakage fee and possibly sacrifice some of your interest as a penalty. But if you know you can invest a certain amount of money for a fixed period of time, you can rest assured that a term deposit is a safe investment option.

Details  

^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on