Looking for guaranteed returns to help grow your savings? Lock in your returns with a Term Deposit.

Choose the term and we’ll handle the growth.​

12 Months (Online Only)* 5.00 % p.a.

View Our Rates

Key features

Available for Personal use, Partnerships, Trusts, Companies and Self-Managed Super Funds
Flexible investment terms, from 1 to 13 months
Invest as little as $1,000
Up to $250,000 guaranteed by the Australian Government Financial Claims Scheme (FCS)

How to apply Online for a Term Deposit

  • Apply online in just 5 minutes
  • You need to be an Australian Permanent Resident or Citizen living in Australia.
  • Make sure you have your ID documents (Driver’s License or Passport) nearby.
  • Your account will be opened instantly unless we need more information.  If that happens, we’ll be in touch.

Apply Online as a Personal Customer

 

Eligible Entities:

  • 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 up to 9 individuals as trustees​ (excludes companies as a trustee).
  • 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.

If you're another entity type or are looking to invest in a different term, please submit an online enquiry and we will be in touch.

Enquire about a different entity type or term

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 as a Business or Organisation

2025 Mozo Experts Choice Award

Enjoy award-winning returns and exceptional customer value with our Term Deposit.
Term Deposit Annual Rate
1 month 1.25% p.a.
2 months 1.50% p.a.
3 months 3.85% p.a.
3 months (Online Only)* 4.40% p.a.
4 months 3.50% p.a.
5 months 3.50% p.a.
6 months 5.00% p.a.
6 months (Online Only)* 5.20% p.a.
7 months 3.70% p.a.
8 months 3.70% p.a.
9 months 4.00% p.a.
10 months 3.80% p.a.
11 months 3.80% p.a.
12 months 5.10% p.a.
12 months (Online Only)* 5.30% p.a.
13 months 4.05% p.a.

Note: Only 6, 9 and 12 month Term Deposits can be opened online for organisations.

Please note only the following organisations with up to 9 individuals as beneficial owners or trustees are eligible to apply online: 

  • Private Company 
  • Trusts or SMSFs (with no company trustees)

If you're another entity type or are looking to invest in a different term, please submit an online enquiry and we will be in touch.

 

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.

You can open a Term Deposit by visiting any of our branches or submitting an online enquiry. 

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.

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. Log into 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.

See all FAQs

We're here to help

Enquire about a Term Deposit for personal use.

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Enquire about a Term Deposit for a Business or Organisation.

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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 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. Term Deposit Interest Rates quoted for all terms are calculated on a per annum basis and are subject to change without notice.

This is general information only, 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