Bank of Melbourne term deposit account
![Bank of Melbourne Term Deposit](https://www.finder.com.au/niche-builder/5e96b6555071a.jpg)
- Interest rate 12 months interest rate
- Up to 4.3% p.a.
- Minimum opening deposit
- $1,000
- Maximum deposit
- $2,000,000
- Maximum balance
- $2,000,000
Summary
Open a Bank of Melbourne term deposit with as little as $1,000 and look forward to flexible maturity options.
Bank of Melbourne accepts term deposits of amounts in between $1,000 and $2,000,000, and you can choose from terms in between one month and five years. These term deposits don’t attract any ongoing fees, Bank of Melbourne gives you flexible interest repayment options, and you get various options when your term deposit matures.
Pros
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Maximum deposit of
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Automatic renewal on maturity of your account
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Access your funds via internet and phone banking
Cons
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$1,000 minimum investment for 1 month term deposit
Details
Key details
Product Name | Bank of Melbourne Term Deposit |
3 month interest rate | 3.55% |
4 month interest rate | 3.60% |
6 month interest rate | 3.80% |
7 month interest rate | 3.85% |
9 month interest rate | 4.05% |
12 month interest rate | 4.30% |
24 month interest rate | 4.05% |
36 month interest rate | 4.05% |
48 month interest rate | 4.05% |
60 month interest rate | 4.05% |
Minimum Opening Deposit | $1,000 |
Minimum age requirement | 18 |
Government guarantee | Yes |
Eligibility
Minimum Age Requirement | 18 |
Joint account availability | Yes |
Min Deposit | $1,000 |
Available to children | Not available for children |
Your reviews
![Avatar](https://www.finder.com.au/finder-au/wp-uploads/2021/07/AlisonBanney_Finder_600x600.jpg)
Alison Finder
Editor
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![Avatar](https://www.finder.com.au/finder-au/wp-uploads/2023/10/Sarah-Megginson_2023_600x600.jpg)
Sarah Megginson Finder
March 02, 2023
Hi Bob,
This term deposit is available to individuals rather than SMSFs.
You are eligible for this account if:
You’re over 18 years old.
You’re a permanent Australian resident.
Hope this helps!
Bob Canty
October 23, 2022
do you accept SMSF