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2 years - Interest paid on maturity or annually
If you have a longer term goal but can't resist dipping into your funds, a term deposit can be a simple, secure way to grow your savings.
A term deposit is a savings account where you lock in your money for a fixed period of time, anywhere from 30 days up to five years. In return, you receive a fixed interest rate for the entire term, so you know exactly how much you’ll earn.
You can invest from as little as $1,000. Your interest rate won’t change during the term, giving you certainty and stability. At maturity, you can withdraw your funds, reinvest them, or choose a new term and rate.
| Terms Available (Min $1,000) |
Interest paid on maturity or annually | Interest paid monthly |
| 5 years | 4.25% p.a. | 4.05% p.a. |
| 4 years | 4.25% p.a. | 4.05% p.a. |
| 3 years | 4.85% p.a. | 4.65% p.a. |
| 2 years | 5.55% p.a. | 5.40% p.a. |
| 1 year | 5.30% p.a. | 5.20% p.a. |
| 9 months | 5.15% p.a. | 5.05% p.a. |
| 6 months | 5.15% p.a. | 5.10% p.a. |
| 3 months | 4.95% p.a. | 4.90% p.a. |
| Features | |
| Minimum opening deposit | $1,000 |
| Funds available | At maturity |
| Statement options | Online statements |
| Monthly account fee | $5 – exempt where minimum membership balance of $5,000 is maintained at all times throughout the month |
| Transaction fees | N/A |
| Service centre access | Yes |
| Visa debit card | No |
| Direct credit | No |
| Direct debit | No |
| Quick debit | No |
| Periodical payment | No |
| BPAY | No |
| Bank@Post | No |
| Interest calculation | Calculated on daily balance and paid monthly, annually or at maturity |
| Conditions | Early withdrawal will be allowed at the discretion of the Bank on 31 days notice. Reduced interest rates may apply. |
If you have a Self-Managed Super Fund (SMSF) Account with Unity Bank, you can open a Term Deposit in the name of your fund. SMSF Term Deposits use the same competitive fixed interest rates and terms as our standard Term Deposits, with the account opened in accordance with your fund's trustee and documentation requirements.
For more related frequently asked questions, visit our FAQs page.
* For more information on the Australian Government guarantee, visit our Financial Claims Scheme page.
