What is a term deposit?

A fixed rate term deposit is designed to earn you interest on your savings by securely locking your money away for a fixed amount of time with a fixed interest rate. To take out a term deposit with us, you will need to invest more than $1000 for a term a minimum of one month or up to five years. The interest rate you earn, and therefore the profit made on your savings, will depend on how much you invest and for how long. Interest rates for deposits over $1 million are available upon request.

To open a Term Deposit Account, apply online, call 13 1905, or visit your nearest RACQ store.