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Competitive interest rates
Investment terms are available from 3 to 24 months, so you can find the option that works best for you.
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Flexible interest payment frequencies 1
Interest paid at maturity, monthly, or annually on terms over 12 months.
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Manage your term deposit online
Enjoy convenient online account access to manage your term deposit.
Grow your savings with a fixed return and clear time frame
A term deposit is a simple way to earn interest on your savings. With a fixed interest rate and a defined term, you’ll know exactly how much your investment will earn from the start.
MoveBank’s Term Deposits are designed for customers who value certainty and a structured approach to saving. Whether you’re setting aside funds for a future goal or looking for a low‑risk investment option, a term deposit provides a predictable outcome.
What is a term deposit?
A term deposit is a savings product that allows you to invest a lump sum for a fixed period, earning a guaranteed interest rate for the duration of that term.
When you open a term deposit:
- You choose how much you want to deposit
- You select a term (from a few months to several years)
- Your interest rate is locked in for the agreed period
During the term, your funds are generally locked away. In return, you receive a fixed rate of interest, giving you certainty over your return.
How term deposits work
With a term deposit, your savings are invested for a defined period, and interest is calculated based on the agreed rate.
Key steps include:
- Deposit funds
You invest a set amount of money into the account.
- Choose a term
Terms typically range from short‑term options through to longer periods, often up to five years.
- Earn fixed interest
Your interest rate stays the same for the full term, regardless of market changes.
- Maturity
At the end of the term, you can withdraw your funds or reinvest them into a new term deposit.
This structure allows you to plan with confidence, knowing your return in advance.
Key features of MoveBank Term Deposits
MoveBank term deposits are designed to provide clarity and consistency:
- Fixed interest rate for the duration of the term
- Choice of term lengths to suit your goals
- Defined investment time frame
- No exposure to market fluctuations
- Interest paid at maturity or at agreed intervals (depending on term)
Eligibility criteria, minimum deposits and product conditions apply.
See how much interest you could earn
Choosing the right term
When selecting a term deposit, consider:
- How long you’re comfortable locking your funds away
- Whether you prefer short‑term flexibility or longer‑term certainty
- Your savings goals and timing
In general, longer terms may offer different interest rates, but this can vary depending on market conditions.
Accessing your funds
Your funds are typically available at the end of the agreed term (known as maturity).
If you need access earlier:
- You maybe required to provide advance notice
- Interest earned may be adjusted
- Conditions and fees may apply
It’s important to consider when you are likely to need access to your funds before deciding whether a term deposit is right for you.
Managing your term deposit at maturity
When your term deposit reaches maturity, you’ll usually have options, such as:
- Withdrawing your funds
- Reinvesting into a new term deposit
- Transferring funds to another account
Making a decision at maturity allows you to adjust your savings strategy depending on your goals.
Lock in a competitive interest rate and watch your savings grow!
Security and protection
Term deposits with MoveBank are issued by an authorised deposit‑taking institution and are covered by the Australian Government’s Financial Claims Scheme (FCS). This means eligible deposits of up to $250,000 per account holder are protected, providing added confidence and security when saving with MoveBank.
Who a term deposit may suit
MoveBank Term Deposits may suit:
- Customers looking for a low‑risk savings option
- Individuals with a lump sum to invest
- People who want a guaranteed rate of return
- Savers working towards a future goal with a defined timeline
Frequently asked questions
How to apply
You can open a MoveBank Term Deposit online or speak with a member of the team to explore your options. You’ll need to choose your deposit amount and preferred term as part of the application process.
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Important information
Term deposits are subject to terms and conditions, including minimum deposit requirements and early withdrawal conditions. Interest rates are quoted per annum (p.a.) and are subject to change.
This information is general in nature and does not take into account your objectives, financial situation or needs. You should consider whether a term deposit is appropriate for you before making a decision.