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Term Deposit

Sprouting seeds of growth
Get a guaranteed return on money that you aren’t using right now with a term deposit.
6 Months (Online Only)* 4.65 % p.a.

Key features

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)

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
Apply Now

Calculators

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

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.

Ready to apply for an Online 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 Now

FAQs

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

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

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We're here to help

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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.

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