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  3. MyState Bank
  4. Online Term Deposit

Online Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Interest payment to other institution

Interest rate

0.50%

Maximum rate

4.85%

for 9 months

Online Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Interest payment to other institution

Interest rate

0.50%

Maximum rate

4.85%

for 9 months

RateCity says

"Watch your savings grow with this competitive term deposit from MyState with $0 establishment or account keeping fees."

Pros and Cons

For Online Term Deposit

Benefits

  • No account keeping fees
  • Interest can be paid to other institution
  • Automatic maturity rollover
  • Early withdrawal available

Drawbacks

  • 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds

MyState Bank Rate Term Deposit overview

For Online Term Deposit

Features

Min deposit

$5,000

Automatic maturity rollover

Maturity alert by phone

Maturity alert by email

Joint application available

Minimum Age Requirement

16

Notice period to withdraw

31

Is covered by government guarantee

Target Market Determination

Visit MyState Bank Limited to view Target Market Determination.

Interest

Interest Calculation Frequency

Daily

Interest Payment Frequency Options

At Maturity

Interest payment via other institution

Interest payment method

Direct Credit

Fees

Account keeping fee

$0

Early withdrawal fee

-

Rates

TermRates on deposit of ($5,000 - $99,999,999)
1 month0.50%
2 months0.50%
3 months2.50%
4 months4.20%
5 months4.40%
6 months4.60%
7 months3.50%
8 months2.15%
9 months4.85%
10 months4.70%
11 months1.75%
1 year4.80%
2 years3.95%

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 MyState Bank mortgage specialist.