Bendigo Bank term deposit (under $5000)
- Interest rate 12 months interest rate
- Up to 0.15% p.a.
- Minimum opening deposit
- $0
- Account keeping fee
- $0
- Maximum deposit
- $4,999
Summary
Invest between $0 and $4,999, choose a term from 1 month to 5 years, and don’t pay any account keeping fees.
This term deposit by Bendigo Bank allows you to earn some interest on small deposit amounts between $0 and $4,999. The interest rates offered for deposits under $5000 aren't very high, however, balances above this earn a much higher rate.
Pros
-
A fixed interest rate with guaranteed returns
-
$0 account-keeping fees
Cons
-
Minimum investment of $0
-
Low rates
Details
Key details
| Product Name | Bendigo Bank Term Deposit - $0-$4,999 |
| 3 month interest rate | 0.05% |
| 4 month interest rate | 0.05% |
| 6 month interest rate | 0.10% |
| 7 month interest rate | 0.10% |
| 9 month interest rate | 0.10% |
| 12 month interest rate | 0.15% |
| 24 month interest rate | 0.15% |
| 36 month interest rate | 0.15% |
| 48 month interest rate | 0.15% |
| 60 month interest rate | 0.15% |
| Minimum Opening Deposit | $0 |
| Government guarantee | Yes |
Eligibility
| Joint account availability | Yes |
| Min Deposit | $0 |
| Available to children | No minimum age |
Your reviews
Alison Finder
Editor
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Alison Banney Finder
July 21, 2023
Hi Adam, if you want to break your term deposit early you’ll need to give 31 days notice and an interest rate reduction may apply. This is because term deposits are designed to be locked until they mature – they’re not meant to be accessed early.
Sueellen
June 20, 2023
How do I take my money out of a term deposit on maturity date
Sarah Megginson Finder
June 23, 2023
Hi Sue Ellen,
On maturity date, you can withdraw funds by transferring them out of your term deposit account into an every-day transactional/savings account. You can do this online, through the app or at a branch.
Hope this helps!
Noel Briggs
August 04, 2022
If I invest in term deposit for 24 months with a deposit of $200;000 what will be my return and my % rate
Alison Banney Finder
August 08, 2022
Hi Noel,
If the interest will be paid at maturity, monthly, quarterly, and semi-annually, the rate is 2.85% p.a while the interest paid yearly gets 2.90% p.a (as of Aug 2022).
Kind regards,
Alison
Anthea
February 18, 2019
What is the interest rate for a Term Deposit of $50,000, please?
Jhezelyn Finder
February 20, 2019
Hello Anthea,
Thank you for your comment.
The rates on the page above are for balances below $5000. The rate for a balance of $50,000 depends on how long the term is. For a balance of $50,000, the current interest rate for a 12 month term is 1.70% p.a., and the interest on a 24 month term is 1.95% p.a. These rates are correct as of 1st July 2019 and are subject to change.
Regards,
Jhezelyn
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Adam
July 20, 2023
What happens if i want to break the term deposit a couple of months early ? why does it take 31 days to get your money ?