Summary

Take advantage of a competitive interest rate and watch your savings grow with a MOVE Bank Term Deposit.

If you’re looking for a competitive interest rate and the security of a term deposit, a MOVE Bank Term Deposit is well worth a look. MOVE Bank term deposits are available with terms ranging from 3-24 months, and you can invest as little as $5,000 and then sit back and watch your money grow.

Pros

Competitive interest rate

Cons

Minimum opening balance $5,000

Details

Key details

Product Name	MOVE Bank Term Deposit
3 month interest rate	4.85%
4 month interest rate	4.80%
6 month interest rate	4.80%
7 month interest rate	4.95%
9 month interest rate	4.75%
12 month interest rate	4.70%
24 month interest rate	4.30%
Minimum Opening Deposit	$5,000
Government guarantee	Yes

Eligibility

Joint account availability	Yes
Min Deposit	$5,000
Available to children	No minimum age

Key features

Competitive interest rates

A MOVE Bank Term Deposit allows you to fix a competitive rate for a pre-arranged period of time. The fixed interest rate means you get the security of a guaranteed return on your investment.

Minimum balance

If you want to open a MOVE Bank Term Deposit, you'll need to have at least $5,000 to deposit.

Choose your term

MOVE Bank Term Deposits are available with the following terms: 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 to 14, 15 to 24 and 12 to 14 months. The interest rate you receive varies depending on the term you choose, so check with MOVE for up-to-date interest rate figures.

Interest payment options

Interest on a MOVE Bank Term Deposit is calculated daily and paid monthly or at maturity, depending on the term.

End of term

Once the investment term ends, you have two choices of what to do with your money: you can rollover into a new term deposit or you can withdraw your money to spend or invest elsewhere.

Early redemption fee

If you decide to redeem your term deposit balance before it reaches maturity, you'll need to give IMB 7 days' notice. IMB will reduce your interest payment based on the remaining length of your term. The early you redeem your money, the larger the interest reduction.

Launch term deposit calculator

How to apply

Eligibility

You'll simply need to provide your name, phone number, email address, the topic you want to discuss and your preferred callback time.

Alternatively, you can start your application for a MOVE Bank Term Deposit online immediately.

Documentation needed

The application process takes about five minutes and you will need to supply:

Your full name
Your MOVE member number (optional)

Your phone number
Your email address
Your preferred callback time
Your message or any questions you may have

What happens after I submit my application?

Once you've submitted the form, a MOVE representative will contact you as soon as possible to discuss your account needs and check whether you are eligible to open an account.

A MOVE Bank Term Deposit offers a long list of benefits to anyone looking for a secure and convenient way to invest their money. However, it's essential that you compare the interest rates and features of a MOVE Bank Term Deposit with those from other financial institutions before choosing a term deposit account.

Compare other term deposit accounts

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Name	3 Mths p.a.	4 Mths p.a.	5 Mths p.a.	6 Mths p.a.	7 Mths p.a.	11 Mths p.a.	12 Mths p.a.	24 Mths p.a.
Judo Bank Term Deposit Finder Award$1,000 min. deposit	3 Mths p.a. 5.00%	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 5.15%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 5.00%	24 Mths p.a. 4.75%	Go to site More Info Compare
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. 4.75%	7 Mths p.a. 3.80%	11 Mths p.a. -	12 Mths p.a. 4.55%	24 Mths p.a. 4.00%	Go to site More Info Compare
Bankwest Term Deposit $1,000 min. deposit$10,000,000 max. deposit	3 Mths p.a. 3.75%	4 Mths p.a. 3.00%	5 Mths p.a. 3.00%	6 Mths p.a. 4.25%	7 Mths p.a. 4.00%	11 Mths p.a. -	12 Mths p.a. 4.70%	24 Mths p.a. 3.90%	Go to site More Info Compare

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MOVE Bank Term Deposit

Pros

Cons

Key features

Competitive interest rates

Minimum balance

Choose your term

Interest payment options

End of term

Early redemption fee

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other term deposit accounts

Compare other products from MOVE Bank

Your reviews

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