In this guide

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

Heritage Bank Term Deposit

  • Alison Banney's headshot

Updated
Heritage Bank Term Deposit
Interest rate 6 months interest rate
Up to 4.65% p.a.
Minimum opening deposit
$1,000
Account keeping fee
$0

Summary

Invest from as little as $1,000 with some of the best term deposit rates in the market.

The Heritage Bank term deposit guarantees a fixed interest rate so you know what your investment is worth. You can invest from as little as $1,000. You can choose to have your interest paid on maturity, up-front, fortnightly (for aged pension receivers), monthly, quarterly, half-yearly or yearly.

Pros

  • Low minimum investment of $1,000
  • $0 Account keeping fees
  • Wide ranges of terms from from 1 month to 5 years

Cons

  • A reduced interest rate will apply if you withdraw a portion or all of your investment before maturity

In this guide

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

Details

Key details

Product Name Heritage Bank Term Deposit
3 month interest rate 3.95%
4 month interest rate 3.60%
6 month interest rate 4.65%
7 month interest rate 3.95%
9 month interest rate 4.45%
12 month interest rate 4.40%
24 month interest rate 4.10%
36 month interest rate 3.90%
48 month interest rate 3.90%
60 month interest rate 3.90%
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

Key features

$0 Monthly account keeping fees

There are no monthly fees, nor are there any establishment fees charged when you set up a term deposit with Heritage Bank.

Small minimum investment of $1,000

You must be able to deposit at least $1,000 for a term deposit with Heritage Bank.

Launch term deposit calculator

How to apply

Heritage Bank is a customer owned financial institution, where you must first become a member in order to take advantage of their banking products. Any Australian is invited to apply for membership, which also includes paying a shareholder fee of $1. After becoming a member, you can visit Heritage bank website and start an online application for a term deposit.

Eligibility

There are some other eligibility requirements you will have to meet in order to be able to proceed with the application:

  • Minimum age. There is no age requirement stated for the Heritage Bank term deposit.
  • Residency requirement. You must be able to provide a verifiable residential address in Australia.

Compare other savings accounts

1 - 11 of 184
Updated regularly
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
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
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
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
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
 Get 6 months free delivery and $50 Menulog credit with a new Orange Everyday & Savings Maximiser account. New ING customers only. Use code INGMENU1 and activate accounts by 24 Nov 2024. T&Cs apply.
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
Go to siteView details
 Earn up to 3.25% p.a. after the introductory period ends.
First Option Bank Savings+Bonus Account
First Option Bank logo
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
BCU Bonus Saver
BCU logo
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
loading
Showing 11 of 11 results
Sources
  1. Heritage Bank Term Deposit information page
  2. Heritage Bank Term Deposit TMD

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Alison Finder

Editor

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

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Bob

May 25, 2017

What is the best term deposit rate for 12 months for a smsf for $200,000 current term deposit due 2nd of June?


Avatar

Harold Jacob Finder

May 26, 2017

Hi Bob,


Thank you for your inquiry.


Please check our list of SMSF term deposits. You’ll find a list of SMSF term deposits on our comparison table. The same page also comes with a guide about how to apply for an SMSF term deposit online.


I hope this information has helped.


Cheers,

Harold


Show more Show less
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

More resources on Finder
Banking
Investments
Banks
Go to site