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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

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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? 

  • 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

Knowing how much you actually have to play with can make budgeting a breeze!

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Budget Calculator

Get a better idea of your monthly incomings and outgoings, and what you're left to play with

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Savings Goal Calculator

Project how much you can accumulate over time from an initial contribution and regular ongoing deposits

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Open a Term Deposit

Looking to open an account with Greater Bank? It's simple and can be done via your method of choice.

  • 1

    Open online

    Use our quick and easy form – become a customer in mere minutes!

    Open an account

    Already a customer banking online with us?

    Save time and open an account using your online banking details
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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. 

  • 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?

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.

Savings Goal Calculator

2019_EC_TermDeposit.png

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Pay 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®.

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From $1,000 - $4,999.99
*We calculate interest by applying the daily percentage rate to your account balance for the applicable period in the above table. For terms up to 13 months we pay interest on the Maturity Date. For terms over 13 months we pay interest six monthly and on the Maturity Date. # We calculate interest by applying the daily percentage rate to your account balance for the applicable period in the above table. We pay interest monthly and on the Maturity Date. Note: A reduced interest rate applies if you break your investment prior to the maturity date. Please refer to our Product Schedules for more information.These rates are current as at the Effective Date.
$5,000 and over
*Calculated by applying the daily percentage rate to your account balance for the applicable period in the above table. For terms up to 13 months interest is paid on the maturity date. For terms over 13 months interest is paid six monthly and on the maturity date. # Calculated by applying the daily percentage rate to your account balance for the applicable period in the above table. Interest is paid monthly and on the maturity date. Note: A reduced interest rate applies if you break your investment prior to the maturity date. Please refer to our Product Schedules for more information. These rates are current from the effective date and are subject to change by Greater Bank without further notice. Conditions apply. Please refer to our Terms and Conditions for more information.