Term Deposit

 Product Features

• Other Additional Information: Offers available on Term Deposits opened or renewed by existing Bank of Melbourne personal or business customers. Available on deposits of $1,000-$2,000,000 with interest paid monthly or at maturity depending on term. T&Cs Apply.

• Other Additional Information: Predictable earnings: With a fixed interest rate, you?ll know exactly how much you?re going to earn over your choice of fixed term.

• Other Additional Information: Online bonus rates: Logon to check if you qualify for higher rates than those featured. You'll get an extra 0.10% p.a. for opening or renewing online.

• Other Additional Information: Secured savings: Avoid the temptation to dip into your savings, by locking your investment away for a fixed length of time.

• Other Additional Information: Options at maturity: Choose whether to withdraw funds or reinvest them, providing your instructions online or in the app.

• Other Additional Information: Open a Term Deposit with as little as $1000 and pay no set up or monthly fees. Rates featured are available on deposits of up to $2000000.

• Other Additional Information: When you open a Bank of Melbourne Term Deposit, your money will be looked after by an Australian banking group that dates back over 200 years. Plus, combined balances up to $250,000 per account holder are guaranteed by the Australian Government under its Financial Claims Scheme.

• Other Additional Information: Business customers are eligible to open an account and can open account either by Branch, Phone, online.

• Other Additional Information: Opening Confirmation, Maturity, Reinvestment and Repayment advices are sent as regular advices

• Other Additional Information: Choice of terms ranges from 1 to 60 months

• Fraud Protection Additional Information: The product includes limited fraud protection features.

• Relationship Management Additional Information: Relationship management is available for eligible customers.

• Digital Banking Additional Information: Internet Banking, Phone Banking, Branch banking , Bank@Post options are available

• Other Additional Information: Interest payment options are available

 Product Eligibility

• Min Age - 18.

• Residency Status - Australian Permanent Resident .

• Other Additional Information: Online Only Existing Customers: If you already use Internet or Mobile Banking, you can renew or open a new Term Deposit online in your name. You can also check for bonus rates and manage your Term Deposit online.

• Other Additional Information: Online Only New Customers: you'll need to open an everyday account to access Internet Banking (so you can open a Term Deposit and manage it online).

 Limitations & Restrictions (Constraints)

• Min Balance of 1000.00 Additional Information: Minimum Opening Balance

• Max Balance of 2000000.00 Additional Information: Maximum Balance

 Document Downloads

  savinvestransaccounts-terms.pdf (744 K)