Sprouting seeds of growth

Online Term Deposit

Sprouting seeds of growth
Get a guaranteed return on money that you aren’t using right now with an online term deposit.
Up to 0.75 % p.a.

Key features

Flexible investment terms, from 1 to 12 months
Invest as little as $1,000 or as much as $500,000
Up to $250,000 guaranteed by the Australian Government Financial Claims Scheme (FCS)

Manage your money easily with an Everyday Saver Account

When you open a BOS Online Term Deposit, we’ll automatically open an Everyday Saver Transaction Account for you*. You can use this account to access your money at any time through Internet Banking and the mobile app.

Find out more

Online Term Deposit (up to $500,000) Interest Rate
1 month 0.25% p.a.
2 months 0.30% p.a.
3 months 0.60% p.a.
4 months 0.60% p.a.
5 months 0.65% p.a.
6 months 0.70% p.a.
7 months 0.75% p.a.
8 months 0.70% p.a.
9 months 0.70% p.a.
10 months 0.70% p.a.
11 months 0.70% p.a.
12 months 0.70% p.a.
13 months 0.70% p.a.
Fees & Charges
Early Repayment/Withdrawal Fee $30

When your Online 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 12 months.
    Withdraw your investment – Withdraw all of your funds.

Ready to apply for an Online Term Deposit?

Apply online in just 10 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.

FAQs

If you’re looking to open a Term Deposit with us, you can apply online  or visit your closest branch.

If you’re an existing Bank of Sydney customer, all you need is your contact details and a Bank of Sydney Transaction Account Number. If you’re new to the Bank of Sydney, you’ll need your contact details, plus your Australian Identification and TFN on hand.

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

  • Reinvest your original balance and interest earned
  • Transfer the balance to your linked Everyday Saver transaction account
  • 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 of between 1 to 13 months.
  • 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, 9:30am – 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.

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’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, 9:30am – 5pm AEST) to discuss your needs.

If you want to deposit a higher amount, please call us on 13 95 00 (Mon – Fri, 9:30am – 5pm AEST) so we can discuss your options.

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We're here to help

Ask questions or give feedback via our online enquiry form.

Talk to one of our friendly staff between 9:30am – 5:00pm (AEST) Monday to Friday.

For amounts over $500,000, please contact our Term Deposit Specialist at your nearest branch on 13 95 00. Interest Rates quoted are calculated on a per annum basis.

*An Everyday Saver account will not be opened for existing customers taking out this product – the Online Term Deposit will be linked to your existing account.

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

Fees and Charges

Deposit, Saving & Transaction Accounts PDS

Privacy Policy & Terms & Conditions of Internet Banking

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 for amounts up to $250,000 per accountholder. For more information about the FCS go to www.fcs.gov.au