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  4. Term Deposit

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

0.55%

Maximum rate

4.85%

for 6 months

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

0.55%

Maximum rate

4.85%

for 6 months

Pros and Cons

For Term Deposit

Benefits

  • Automatic maturity rollover
  • Maturity alert by email and phone

Drawbacks

  • Interest cannot be paid to other institution
  • 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds

RACQ Bank Rate Term Deposit overview

For Term Deposit

Features

Min deposit

$1,000

Automatic maturity rollover

Maturity alert by phone

Maturity alert by email

Joint application available

Minimum Age Requirement

13

Notice period to withdraw

31

Is covered by government guarantee

Target Market Determination

Visit RACQ Bank to view Target Market Determination.

Interest

Interest Calculation Frequency

Daily

Interest Payment Frequency Options

At Maturity, Annually

Interest payment via other institution

Interest payment method

-

Fees

Account keeping fee

$0

Early withdrawal fee

-

Rates

TermRates on deposit of ($1,000 - $1,000,000)
1 month0.55%
2 months1.60%
3 months4.80%
4 months3.50%
5 months3.50%
6 months4.85%
7 months3.50%
8 months3.50%
9 months4.75%
10 months3.50%
11 months3.50%
1 year4.75%
2 years4.20%
3 years3.95%
4 years3.95%
5 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 RACQ Bank mortgage specialist.