RACQ Bank Term Deposit
![RACQ Bank Term Deposit (QLD residents only)](https://www.finder.com.au/global/images/providers/racq-logo-140px.png)
- Interest rate 6 months interest rate
- Up to 4.85% p.a.
- Minimum opening deposit
- $1,000
- Account keeping fee
- $0
- Maximum deposit
- $1,000,000
Summary
Earn a competitive fixed interest rate and choose a term length between one month and five years.
Pros
-
You must have a Queensland residential address to open this account
-
Choice of term lengths from one month to five years
-
Access benefits and discounts with a RACQ membership
-
Higher interest rates for longer terms provides a great incentive to save
Cons
-
Need a Queensland residential address to open this account
-
Need to link the term deposit to a RACQ bank account
Details
Key details
Product Name | RACQ Bank Term Deposit (QLD residents only) |
3 month interest rate | 4.80% |
4 month interest rate | 3.50% |
6 month interest rate | 4.85% |
7 month interest rate | 3.50% |
9 month interest rate | 4.75% |
12 month interest rate | 4.75% |
24 month interest rate | 4.20% |
36 month interest rate | 3.95% |
48 month interest rate | 3.95% |
60 month interest rate | 3.95% |
Minimum Opening Deposit | $1,000 |
Minimum age requirement | 13 |
Government guarantee | Yes |
Eligibility
Minimum Age Requirement | 13 |
Joint account availability | Yes |
Min Deposit | $1,000 |
Available to children | Not available for children under 13 years of age |
Compare other term deposit accounts
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Your reviews
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Alison Finder
Editor
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Sarah Megginson Finder
July 29, 2024
Hi Leanne,
Yes, RACQ bank does offer TD’s for SMSF, but only to QLD residents.
You can review other options for SMSFs term deposits here.
Best of luck!
![Avatar](https://www.finder.com.au/global/images/finder-default-gravatar-64.png)
Cheryl
August 29, 2019
Can we withdraw funds from term deposit. If yes, is there a minimum, any penalty and how long does it take to get funds?
Nikki Angco
August 30, 2019
Hi Cheryl,
Thanks for getting in touch! Yes, you can withdraw funds from your RACQ Term Deposit. Note that there is an early redemption fee where the interest rate is reduced by 2.00% for the term of the deposit. To know how long it takes to take the funds out, please contact RACQ directly.
Hope this helps!
Best,
Nikki
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![Avatar](https://www.finder.com.au/global/images/finder-default-gravatar-64.png)
Ken
August 08, 2019
Would you please advise the interest rate on term deposit for 2 months?
Leanne
July 24, 2024
Do you do SMSF term deposit accounts