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  2. Term Deposits
  3. Summerland Bank
  4. Fixed Term Deposit

Fixed Term Deposit

  • 6 months
  • Automatic maturity rollover
  • Interest payment to other institution

Interest rate

4.40%

Maximum rate

4.85%

for 9 months

Fixed Term Deposit

  • 6 months
  • Automatic maturity rollover
  • Interest payment to other institution

Interest rate

4.40%

Maximum rate

4.85%

for 9 months

Pros and Cons

For Fixed 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

Drawbacks

    Summerland Bank Rate Term Deposit overview

    For Fixed Term Deposit

    Features

    Min deposit

    $100,000

    Automatic maturity rollover

    Maturity alert by phone

    Maturity alert by email

    Joint application available

    Minimum age requirement

    Notice period to withdraw

    Is covered by government guarantee

    Target Market Determination
    Visit Summerland Bank 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, Rollover on maturity

    Fees

    Account keeping fee

    $0

    Early withdrawal fee

    Rates

    TermRates on deposit of ($1,000 - $19,999)Rates on deposit of ($20,000 - $99,999)Rates on deposit of ($100,000 - $1,000,000)
    3 months4.40%4.50%4.60%
    4 months3.80%3.90%4.00%
    5 months3.80%3.90%4.00%
    6 months4.55%4.65%4.75%
    9 months4.65%4.75%4.85%
    1 year4.60%4.70%4.80%
    2 years4.30%4.40%4.50%
    3 years3.80%3.90%4.00%
    4 years3.80%3.90%4.00%
    5 years3.80%3.90%4.00%