Summary

You can lock in a special rate for a limited time.

SPECIAL OFFER: 4.80% p.a. for a 6 month term.

This offer is for new deposits only, and available for deposits between $50,000 and $1 million. This offer is available until 30 June 2025, or until the allocation runs out.

Details

Key details

Product Name	Community First Bank 6 month Term Deposit Offer
6 month interest rate	4.80%
Minimum Opening Deposit	$50,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$50,000
Available to children	Not available for children

Key features

Minimum investment amount

With this special term deposit from Community First you must deposit at least $50,000.

Monthly account keeping fees

You will pay no fees for maintaining this account.

Length of terms.

You are able to choose terms that range from three months to three years with a Community First Term deposit. However, the current special offer is for a 6 month term.

Interest rates

The fixed rates for the Community First Term Deposit are competitive, and tiered to pay you more not only with larger deposit amounts but also with longer terms.

Interest payments

Interest is calculated on the balance in your account daily and Community First allows you to choose whether payments are made every four weeks, when the terms end, or monthly. Interest paid at maturity only is only available when you choose a term of less than one year.

Early withdrawal

Community First requires at least seven days notice if you are going to make a withdrawal on your term deposit before maturity. You will be penalised with a reduced interest rate, which will be determined by the percentage of time you kept the term deposit active.

Term deposit maturity

A letter of certificate of investment will be sent to you just before your term deposit is close to the end of its term. Within 14 days of maturity you have the option of making a withdrawal or renewing your term deposit structured the same, or with different terms. If no notice is given by you, Community Bank will re-invest the interest and principal according to the instructions you gave when the account was opened.

Managing the term deposit

You can use internet, mobile or phone banking to access your term deposit as well as with over the counter transactions at a Community First financial service store.

Membership

In order to benefit from a term deposit with Community First you must first become a member of the credit union.

How to apply

Eligibility

You can apply online, or over the phone. This term deposit is available to individuals and SMSFs.

Minimum age. You must be 18 or over to apply.
Residency requirements. Account holders must be Australian residents with a residential address inside of the country.

Depository requirements. You will be asked for a payment of $2 when you apply to become a member, and when activating the term deposit will be required to make an opening deposit of at least $50,000.

Documentation needed

You will also need to provide details from the following documentation as you fill out your application:

Tax file number. You are not obligated by law to provide your tax file number (TFN) but if you don't, Community First is required to deduct tax at the highest marginal rate from your interest earnings.
Identification. Applicants over the age of 18 can use their driver's licence, passport or Medicare card to provide proof of identity when applying for membership online.

What happens after I submit my application?

Once your membership with Community First has been confirmed, you can set up a transaction account or savings account online as well. When activated, either call or visit Community First so that you can open your term deposit as well, and have it linked to your existing account.

Go to site More info

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Newcastle Permanent Term Deposit $1,000 min. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.00%	5 Mths p.a. 4.00%	6 Mths p.a. 4.65%	7 Mths p.a. 3.80%	11 Mths p.a. -	12 Mths p.a. 4.45%	24 Mths p.a. 4.00%	Lock in a rate as high as 4.65% for 6 months with a minimum $1,000 deposit.	Go to site More info Compare	loading Fetching your data...
Judo Bank Term Deposit Finder Award $1,000 min. deposit	3 Mths p.a. 4.75%	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.80%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.50%	24 Mths p.a. 4.30%	You can get competitive interest rates on all term lengths. This term deposit has a low minimum deposit amount and is a 2025 Finder Award winner.	Go to site More info Compare	loading Fetching your data...
Community First Bank 6 month Term Deposit Offer $50,000 min. deposit $1,000,000 max. deposit	3 Mths p.a. -	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.80%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. -	24 Mths p.a. -	Go to site More info Compare	loading Fetching your data...

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Alison Finder

Editorial Manager, Money

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Adera

July 26, 2024

What is the best term deposit interest rate at the moment? Which Bank? Where is it found? is it Government Guaranteed?

Thanks

Sarah Megginson Finder

July 29, 2024

Hi Adera,

Term deposits are covered by the government guarantee, up to $250,000 per person. You can view a range of current offers here:

https://www.finder.com.au/term-deposits

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Community First Term Deposit: Special offer

Key features

Minimum investment amount

Monthly account keeping fees

Length of terms.

Interest rates

Interest payments

Early withdrawal

Term deposit maturity

Managing the term deposit

Membership

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other term deposit accounts

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