Term Deposits
Choose a term that suits you and enjoy locking in a fixed interest rate
A guaranteed, fixed rate for your savings for the duration of the term deposit
- No monthly account keeping fee
- Your deposit is protected under the Australian Government Financial Claims Scheme (up to $250,000)
- Minimum deposit amounts from $1,000.
Make your savings work harder
Enjoy a strong fixed return with our 9‑month Term Deposit.
| Interest Paid at Maturity | ||
|---|---|---|
| I1 – 3 months | $1,000 to $9,999 | 4.30% p.a. |
| I5 – 3 months | $10,000 or more | 4.30% p.a. |
| I25 – 6 months | $10,000 or more | 4.65% p.a. |
| I5 – 9 months | $10,000 or more | 5.10% p.a. |
| I12 – 12 months | $10,000 or more | 4.70% p.a. |
Reduced rate for early redemption is 0.10% p.a.
Term Deposits over $250,000 are subject to acceptance by the Bank with rates quoted individually.
Why get a term deposit?
- A term deposit is a safe, low-risk way to invest money for an agreed period of time and earn an agreed, fixed rate of interest.
- The interest rate is normally higher than that of a savings account, because you agree to lock away the money and it’s normally more money than you’d have in a savings account.
- You can withdraw the money before the end of the term, but there is a financial penalty for ending the term short of the agreed time.
How to apply
How to get started with Police Bank
01
Open a Police Bank transaction account
Select from a range of accounts that suit you. Once you’ve got your BSB and account number, you’re good to go.
02
Switch to Police Bank
Make the change from your existing bank to enjoy the benefits of being a Police Bank member. Get in touch with us today and we’ll make it easy to change over.
03
Find out more
Browse our website to see all the benefits our members enjoy. Talk to some of our members — they could be police you’re working with. When you’re ready, get in touch.
Ready to apply for a Term Deposit?
Important Information
*Terms, Conditions & Eligibility apply. Interest is paid at maturity. Minimum deposit amount is $10,000 and deposits over $250,000 are subject to acceptance by the bank. To consider if this product is right for you, please read our Term Deposit Target Market Determinations (TMD).
Want to see all our Terms and Conditions, policies and more? Click here.