Term Deposit

A Term Deposit offers you the chance to make the most of idle funds that you don't need to access in the short term. You can choose the investment term that works best for your needs while your savings grow at a guaranteed rate of interest.

Key features

Lock in guaranteed returns for a set period with a fixed interest rate.
Choose from a range of terms to suit your needs.
Ideal for investments over $1,000
Up to $250,000 guaranteed by the Australian Government Financial Claims Scheme (FCS).

Online applications available for: Companies, Trusts and Self-Managed Super Funds (SMSF) with individuals as trustees or beneficial owners.

Apply Now Enquire

Calculators

Business Term Deposit Annual Rate
1 month 1.25% p.a.
2 month 1.50% p.a.
3 month 4.00% p.a.
4 month 3.50% p.a.
5 month 3.50% p.a.
6 month 4.40% p.a.
6 months (Online Only)* 4.65% p.a.
7 month 3.70% p.a.
8 month 3.70% p.a.
9 month 4.10% p.a.
10 month 4.00% p.a.
11 month 4.00% p.a.
12 month 4.10% p.a.
13 month 4.10% p.a.
Fees & Charges
Early Repayment/Withdrawal $30

Early repayments attract an administration fee and a reduction in the return generated for the depositor. Please refer to the General Banking Fees & Charges Guide for information on how the reduction amount is calculated.

Ready to apply online for a Term Deposit?

You can apply online if:

  • Your organisation is a Private Company (Pty Ltd) with a registered ABN or ACN, where there are only individual beneficial owners. 
  • Trusts and Self Managed Super Funds (SMSFs) with individuals as trustees.
  • Maximum of nine individuals in the application (which can be a combination of directors, beneficial owners, authorised signatories, trustees and beneficiaries).
  • Each individual must be an Australian resident for tax purposes and have an Australian residential address.

How to Apply:

  • It's easy to apply online in as little as 10 minutes.
  • You must be authorised to open and manage financial products on behalf of the organisation. 
  • Once your details have been successfully verified, all related individuals for your organisation will need to complete their verification online within 3 business days. 

Please have the following ready:

  • The ABN or ACN of your organisation (if applicable).
  • The trust deed and/or any other relevant documents if your organisation is a Trust or SMSF.
  • An Australian driver's licence or Australian passport, your TFN and any relevant tax residency information.
  • Name, Mobile Number and Email of all related individuals for your organisation. 
  • Nominated external bank account details including BSB and Account Number. 
Apply Online

Frequently Asked Questions

When your Term Deposit matures, you have the following options:

  • Reinvest – Your funds will be automatically reinvested for the same term on the date your Term Deposit matures.
  • Partially reinvest – Keep some of your initial funds invested while withdrawing the rest. We’ll place any funds not reinvested into your Everyday Saver Account.
  • Increase your investment – Add additional funds to your investment for greater returns.
  • Change the term – Invest your funds for a new term of between 1 to 13 months.
  • Withdraw your investment – Withdraw all of your funds.
  • If you don’t provide us with instructions, we will automatically reinvest your funds for the same term. You then have 7 calendar days (5 business days) to provide alternative instructions in relation to your reinvested funds without incurring an interest reduction penalty.

You can send us instructions via secure message within Internet Banking, or by calling us on 13 95 00.

All investments and reinvestments are subject to the interest rate applicable on the date your Term Deposit matures. You can click here to view our current rates.

If you’re applying for a Term Deposit with two or more applicants, any one of the applicants will be able to operate the account on their own (also known as ‘Either to sign’ operation). This means that any account holder can transact on the account without the permission of other account holders.

If you’d like a different mode of operation applied to your new account, please contact us on 13 95 00 (Mon-Fri, 9am-5pm AEST) to discuss your needs.

If you would like to withdraw funds from your account before maturity, you will need to provide Bank of Sydney at least 8 calendar days’ advance notice to withdraw your funds.

The 8 days’ notice period starts on the date you provide the written instructions to let us know you would like to withdraw your funds early. Your funds will be disbursed according to your selected method on the 9th day following your early repayment request.

For existing accounts, the early redemption notice period applies if you have reinvested your Term Deposit from 15 December 2021.

Early repayments attract an administration fee and a reduction in the return generated for the depositor. Please refer to the General Banking Fees & Charges Guide for information on how the reduction amount is calculated.

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We're here to help

Our Relationship Managers are on hand to help when you need it.

Speak to us today

Secure message via Internet Banking

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Talk to one of our friendly staff Mon-Fri (Excluding Public Holidays).

Call 13 95 00

*Rate only available for Term Deposits opened online. The minimum deposit amount for the Bank of Sydney Term Deposit is $1,000. For investment amounts above $1 million, rates are available upon application.

Interest Rates quoted are calculated on a per annum basis.

This is general information only, please take a moment to read through disclosure documents before applying.

General Banking Fees & Charges
Deposit, Saving & Transaction Accounts PDS

More information about our product and services is available here.

Target Market Determination (TMD) for these products is available here.

Bank of Sydney is covered by the Australian Government Financial Claims Scheme (FCS) for amounts up to $250,000 per accountholder. For more information about the FCS go to www.fcs.gov.au