A term deposit is a type of savings account, where you lock away an amount of money for an agreed length of time (a 'term). While this means that you can't access the money in your term deposit account until the term is up, you'll be guaranteed a set interest rate for the length of the term you chose. This way, you can be sure of what return you'll get on your investment.
Great If:
You want to earn a great rate on your savings
You’re after flexible terms with low fees
You want a secure way to grow your money
Key Features:
High interest rate on your savings
Flexible Terms to suit your needs – from one month to five years, with the option to invest by the month
No monthly fee OR monthly account-keeping fees - open with as little as $1,000
Option to have interest paid monthly, six-monthly or at maturity
Invest with confidence as all deposits under $250,000 are Government Guaranteed.
Open a Our Best Term Deposit Account It’s just that simple!
Open an account
I want to
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Bank smarter and avoid fees
Bank fees are right up there with stubbed toes and frostbite as most people’s least favourite things. Luckily, you can minimise their effect and keep more money in your pocket.
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Get the right account
As we grow, we need different accounts for each stage of our life to suit our changing needs. You wouldn't wear one set of shoes your whole life, would you?
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Plan for my retirement
The retirement lifestyle of your dreams is within reach – all it takes is a little foresight and some great advice.
Income Tax Calculator
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Budget Calculator
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Savings Goal Calculator
Project how much you can accumulate over time from an initial contribution and regular ongoing deposits
Open a Term Deposit
Looking to open an account with Greater Bank? It's simple and can be done via your method of choice.
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1
Open online
Use our quick and easy form – become a customer in mere minutes!
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2
Open in branch
Visit your nearest branch where one of our friendly staff will guide you through the account-opening process.
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3
Open in Internet Banking
If you're an existing Greater Bank customer, you can open your Deposit through Internet Banking.
Interest Rates
Rates are effective as at 9am Wednesday 28/10/2020
| Interest on Maturity* | |||
|---|---|---|---|
| Term | $1,000-$4,999.99 | $5,000-$49,999.99 | $50,000+ |
| 1 month | .01 % p.a. | .15 % p.a. | .15 % p.a. |
| 2 months | .01 % p.a. | .15 % p.a. | .15 % p.a. |
| 3 months | .01 % p.a. | .55 % p.a. | .55 % p.a. |
| 4 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 5 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 6 months | .01 % p.a. | .65 % p.a. | .65 % p.a. |
| 7 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 8 months | .01 %p.a. | .50 % p.a. | .50 % p.a. |
| 9 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 10 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 11 months | .01 % p.a. | .50 % p.a. | .50 % p.a. |
| 12 months | .01 % p.a. | .75 % p.a. | .75 % p.a. |
| 13 months | .01 % p.a. | .65 % p.a. | .65 % p.a. |
| 14 - 23 months | .01 % p.a. | .65 % p.a. | .65 % p.a. |
| 2 years | .01 % p.a. | .90 % p.a. | .90 % p.a. |
| 3 years | .01 % p.a. | 1.00 % p.a. | 1.00 % p.a. |
| 4 years | .01 % p.a. | 1.10 % p.a. | 1.10 % p.a. |
| 5 years | .01 % p.a. | 1.15 % p.a. | 1.15 % p.a. |
| Monthly Interest# | |||
|---|---|---|---|
| Term | $1,000-$4,999.99 | $5,000-$49,999.99 | $50,000+ |
| 1 month | - | - | - |
| 2 months | - | - | - |
| 3 months | - | - | - |
| 4 months | - | - | - |
| 5 months | - | - | - |
| 6 months | .01 % p.a. | .55 % p.a. | .55 % p.a. |
| 7 months | .01 % p.a. | .40 % p.a. | .40 % p.a. |
| 8 months | .01 % p.a. | .40 % p.a. | .40 % p.a. |
| 9 months | .01 % p.a. | .40 % p.a. | .40 % p.a. |
| 10 months | .01 % p.a. | .40 % p.a. | .40 % p.a. |
| 11 months | .01 % p.a. | .40 % p.a. | .40 % p.a. |
| 12 months | .01 % p.a. | .65 % p.a. | .65 % p.a. |
| 13 months | .01 % p.a. | .55 % p.a. | .55 % p.a. |
| 14 - 23 months | .01 % p.a. | .55 % p.a. | .55 % p.a. |
| 2 years | .01 % p.a. | .80 % p.a. | .80 % p.a. |
| 3 years | .01 % p.a. | .90 % p.a. | .90 % p.a. |
| 4 years | .01 % p.a. | 1.00 % p.a. | 1.00 % p.a. |
| 5 years | .01 % p.a. | 1.05 % p.a. | 1.05 % p.a. |
What is a term deposit?
Open one of our award-winning Term Deposits today!
Open an accountPay and get paid faster with PayID
Want to pay and get paid in real time? Make sure you've set up a PayID on your Greater Bank account.
Use your mobile number or email address instead of having to remember a BSB and account number, and make payments a breeze with Osko by BPAY®.
Want to pay and get paid in real time? Make sure you've set up a PayID on your Greater Bank account.
Use your mobile number or email address instead of having to remember a BSB and account number, and make payments a breeze with Osko by BPAY®.
