Term Deposit
A Term Deposit is an investment account where the interest rate is guaranteed not to change for the whole of the nominated term. It gives you the security of knowing that your interest income is protected against changes in market conditions.
- Fixed rate
- 5.35%
- 1 year
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Fixed · 7 months Interest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | 3.5% | 7 months | every 7 months |
| Fixed · 1 year Interest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | 5.35% | 1 year | every 12 months |
| Fixed · 10 months Interest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | 3.5% | 10 months | every 10 months |
| Fixed · 2 years Interest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | 3.3% | 2 years | yearly |
| Fixed · 4 years Interest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | 3.3% |
Fees
| Fee | Type | Amount |
|---|---|---|
| Early Redemption If you withdraw your Term Deposit before the maturity date, an Early Redemption fee (i.e. Early redemption interest adjustment) will apply based on the proportion of the term completed. An early redemption notice period also applies. | Variation | Variable |
Features
- Digital banking
- Notifications — Pre-maturity notification sent via letter. Members can also opt-in to notification via SMS and / or email.
Eligibility
- Residency status — Australian Resident
- Minimum age — 13 years
Constraints
- Maximum balance — $1,000,000.00
- Minimum balance — $1,000.00
- Opening balance — $1,000.00
More Information
Published by RACQ Bank under the Consumer Data Right · Last updated 29 June 2026 · Product ID 7 · View on CDR.gov.au · View Source Data (JSON)