Are you looking for a secure investment? Our Term Deposit will fetch you solid returns.
 
We’ve got rates you can rely on:

Up to 5.10 % p.a.

Key features

Flexible investment terms (1 month to 13 months)
Invest as little as $1,000
Up to $250,000 guaranteed by the Australian Government Financial Claims Scheme (FCS)

To open a Term Deposit Account

  • Apply online (for amounts between $1,000 to $1,000,000)
  • Visit your nearest Branch
  • Call us on 13 95 00

Know what your investment is worth

Our handy term deposit calculator can help you easily calculate how much your investment can grow.


Term Deposit Calculator 

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Term Deposit Interest Rate
1 month 1.25% p.a.
2 months 1.50% p.a.
3 months 4.80% p.a.
4 months 4.00% p.a.
5 months 4.00% p.a.
6 months 5.10% p.a.
7 months 4.95% p.a.
8 months 4.95% p.a.
9 months 5.00% p.a.
10 months 4.80% p.a.
11 months 4.80% p.a.
12 months 4.90% p.a.
13 months 4.80% p.a.
Fees & Charges
Early Repayment/Withdrawal Fee $30

 

FAQs

Interest is calculated daily from the date funds are deposited into your account, and paid at maturity.

During your application, you can specify for one of the following options to take place on maturity:

  • Reinvest your original balance and interest earned
  • Decide later

If you want to decide later, you can contact us prior to the date of maturity to let us know what you’d like to do on maturity. These are your options:

  • If you’d like to reinvest your Term Deposit balance, there’s no need for you to do anything. Your funds will be automatically reinvested for the same term on the date your Term Deposit matures.
  • Partially reinvest - You can choose an amount you’d like to reinvest, and the term you’d like it invested for. We’ll put any funds not reinvested directly into your Bank of Sydney Transaction account.
  • Increase your investment - You can add additional funds to your investment when your Term Deposit matures.
  • Change the term - at maturity you can reinvest your funds for a new term between 1 to 13 months.
  • You can send us instructions via secure message within Internet Banking, or by calling us on 13 95 00 (Mon – Fri, 9:00am – 5pm AEST).

    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.

The easiest way to provide your Term Deposit maturity instructions to Bank of Sydney is by sending a Secure Message in Internet Banking.

To send a secure message in Internet Banking:

  1. Login to Internet Banking by visiting banksyd.com.au
  2. Click on the envelope icon on the top right corner of your home page
  3. Select ‘+ New Message’
  4. Type in your maturity instructions 
  5. Send 
  6. Confirm via SMS or push notification

Please note this function is only available on Internet Banking, and not via the mobile app.

We’ll send you a Notice of Renewal prior to your maturity date. If you don’t provide us with instructions after this notice is received, we’ll automatically reinvest your funds for the same term and at the rate applicable on that day. You have a 7 day (5 business day) period from the date of maturity in which you can make partial changes to your Term Deposit (inclusive of partial withdrawals) at no additional cost.

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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Talk to one of our friendly staff Mon - Fri, 9am–5pm AEST (Excluding Public Holidays). Call 13 95 00

Call 13 95 00

The minimum deposit amount for the Bank of Sydney Term Deposit is $1,000. For deposits above $1,000,000 rates are available upon request and applications must be made via a Bank of Sydney branch or calling 13 95 00.

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.

Please take a moment to read through the below information before applying, as this advice is general and does not take into account specific individual needs.

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

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

More information about our product and services is available here.

You do not have to quote your TFN for all or any of your accounts. If you choose not to quote your TFN or eligible exemption, your interest payments may be taxed at the maximum rate. We recommend you obtain your own independent tax advice.

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