In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • FAQ
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Arab Bank Fixed Term Deposit Account

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Updated
Arab Bank Fixed Term Deposit Account
Interest rate 6 months interest rate
Up to 4.30% p.a.
Minimum opening deposit
$0
Account keeping fee
$0
Maximum deposit
$1,999

Summary

Start investing early with a fixed rate term deposit that makes no stipulations for how little you can start earning interest with.

The Arab Bank offers Australians a flexible term deposit account with no minimum balance requirement and terms for a quick investment period or for when you have a longer savings goal in mind. Interest rates are competitive, and can be paid into the account to further its growth with compound interest. With transactions that are free from any fees, your savings will grow faster than you hoped for.

Pros

  • Highly competitive interest rate
  • Interest calculated daily
  • Terms from 1 month to 5 years available

Cons

  • For terms of two years or less, interest is paid at maturity

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • FAQ
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Arab Bank Fixed Term Deposit Account
3 month interest rate 3.75%
4 month interest rate 3.60%
6 month interest rate 4.30%
9 month interest rate 4.15%
12 month interest rate 4.00%
24 month interest rate 3.70%
36 month interest rate 3.60%
48 month interest rate 3.60%
60 month interest rate 3.50%
Minimum Opening Deposit $0
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability No
Min Deposit $0
Available to children Not available for children

Key features

Minimum balance

You can open a term deposit with an opening balance of $0. You also have the option of making the deposit in Australian dollars or with one of the following; United States dollar, Great British Pound, Euro, or Swiss Franc.

Choice in terms

The terms offered by Arab Bank range in length from one month to five years for those in Australian dollars or one to six months for other currencies.

How to apply

If you are considering applying for the Fixed Term Deposit Account you will first need to contact a representative of Arab Bank. As they are limited to only ten branches in Australia, concentrated in Melbourne and Sydney, you will first want to make sure that you are eligible for this account before making the trip.

Eligibility

  • Minimum age. While Arab Bank makes no mention of an age requirement for this account, minors may need have permission from a parent or guardian.
  • Residency requirements. Account holders will have to be residents of Australia with a residential address.

FAQ

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ING Savings Accelerator ($150,000 - $500,000)
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Standard Variable Rate p.a.
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Rabobank High Interest Savings Account
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Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Ubank High Interest Save Account
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Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
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ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
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Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
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Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
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Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
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Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
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Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
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Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
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Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
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Monthly Max Rate Conditions
  • Grow balance
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ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
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Monthly Max Rate Conditions
  • Deposit $1,000
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IMB Reward Saver Account
IMB logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
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 Earn up to 3.25% p.a. after the introductory period ends.
Rabobank PremiumSaver
Rabobank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.45%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance by $200+ each month
  • Balances up to $250,000
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St.George Incentive Saver
St.George Bank logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
1.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance $50 ($0.01 if under 21)
  • Balance up to $249,999.99
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 Extra 0.10% p.a. for 3 months for new customers who apply online, with balances under $250,000.
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Showing 12 of 12 results

Compare other products from Arab Bank of Australia

Sources
  1. Arab Bank Fixed Term Deposit Account information page
  2. Arab Bank Fixed Term Deposit Account TMD

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Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

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Tony

January 02, 2019

After maturity of a term deposit can you withdraw principal and interest to another bank


Avatar

John Basanes Finder

January 03, 2019

Hi Tony,


Thank you for reaching out to finder.


After the maturity date of your term deposit, you have the option to renew your term deposit with your current bank or opt to withdraw everything and transfer it to another bank depending on your choice. Hope this helps!


Cheers,

Reggie


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Avatar

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full profile

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