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Term Deposit

Calculate term deposit interest for UBank

Deposit amount

Savings term


Pros and Cons

  • Covered By government guarantee
  • Interest can be paid to other institution

    UBank term deposit rates

    Savings Term
    $1,000 - $2,000,000
    1 month 1.40%
    2 months 1.60%
    3 months 2.05%
    4 months 2.05%
    5 months 2.10%
    6 months 2.05%
    7 months 2.05%
    8 months 2.05%
    9 months 2.05%
    10 months 2.05%
    11 months 2.05%
    1 year 2.05%




    Yes, term deposits are covered by the Australian government guarantee.

    Under the Financial Claims Scheme, the Australian government guarantees term deposits up to $250,000, capped at one person, per financial institution.

    This means that your term deposit (if it’s $250,000 or less) is protected in the unlikely event the bank, building society or credit union collapses.

    If you have more than $250,000 in a term deposit with one the one bank, for example, then only up to $250,000 of your principal is covered.

    If you’ve got more than $250,000 and you wish to invest in a term deposit, you could consider dividing your money between term deposits and banks (limiting each deposit to $250,000 per bank).

    That way all of your deposits are protected by the Australian government guarantee and you will not suffer any financial losses.

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