Grow your savings with our competitive term deposit rates

Lock in a fantastic 5.10%p.a.* term deposit rate for 11 months with a minimum $5000 deposit. It's the hassle-free way to make your money work smarter, not harder. 11 months too long? We have a range of flexible terms to keep your money growing until you need it. 

As the only Tasmanian owned and operated bank, we understand what Tasmanians need. 

Your investment is not just financially sound, it's also secure and safe with us. Deposits with Bank of us are covered by the Australian Government’s Financial Claims Scheme. Giving you peace of mind that your deposits are covered up to $250,000 per account holder.

Make the smart choice today

With our competitive 5.00%p.a. * on 6 months or 5.10%p.a.* on 11 months with interest paid at maturity, your financial future is brighter than ever. Say hello to simple, secure investments.

5
.10P.A.* 11 months
Term Deposit

Minimum deposit $5,000. Interest paid at maturity.



Chat to us about how our fixed term deposit rates can give your savings the boost they deserve.

Frequently asked questions

What is a term deposit?

A term deposit is a type of investment that involves depositing a specific amount of money for a predetermined period, known as a term. During this period, your money earns a fixed interest rate which is typically higher than regular a savings account. At the end of the term, you receive your initial deposit along with the accumulated interest.

Who is a term deposit good for?

A Bank of us term deposit could be right for you if:

  • You have a minimum of $5000 to invest
  • You need a secure, guaranteed return over a set period (term)
  • You need to maximise the interest rate you receive and will accept interest paid at maturity
  • You don’t need to access your funds during the selected fixed term

A term deposit is not suitable if you:

  • Require access to your funds during the term
  • Require interest to be paid monthly

What happens at the end of the term?

You can have access to both the principal and interest that you’ve earned. You can choose to re-invest for a further term or not.

Can I withdraw my money early?

Withdrawals may be permitted at our discretion but the amount of interest you receive will be reduced. If you need to make withdrawals, you might want to consider a savings account instead.

If you withdraw less than 7 days after investment, no interest will be paid. Check out our Summary of Accounts, Availability of Access Facilities and Transaction Limits for more details.

I found some more money, can I add it to my term deposit?

No. You’re not able to deposit to the account during the term. You might wish to put additional funds into a savings account until the term deposit matures, then you can add your funds.

Are my funds really safe?

All deposits are covered by the Australian Government’s Financial Claims Scheme, up to $250,000 per customer. Find out more www.bankofus.com.au/government-guaranteed

I'm ready to earn a great rate of interest with a term deposit!

Government Guaranteed

Deposits with Bank of us are covered by the Australian Government’s Financial Claims Scheme.
Giving you peace of mind that your deposits are covered up to $250,000 per account holder.

Learn more about saving & investing…check out our blog

 


*Interest rates are for deposits of $5,000 to $200,000 and are subject to change. Available to Tasmanian residents. Available to new or existing Bank of us customers. Please note this information does not take into account your personal circumstances and is general advice only. Before opening any Bank of us account, please read the Account & Access Facility Conditions of Use, Summary of Accounts, Availability of Access Facilities and Transaction Limits and our Schedule of Fees and Charges and decide if the account is right for you. Interest rates are subject to change without notice. Bank of us is a trading name of B&E Ltd ABN 32 087 652 088 AFSL & Australian Credit Licence 236870.