Summary

Lock in a fixed rate on a range of term lengths between 1 month and 5 years for deposits $5000 or more.

The Australian Unity Term Deposit offers you a wide choice of term lengths for your investment, with a fixed rate of return on your money. You can open an account with $5000 or more.

Pros

Large range of term lengths available
No fees

Cons

Must have $5000 or more to open an account

Details

Key details

Product Name	Australian Unity Term Deposit
3 month interest rate	4.65%
4 month interest rate	1.15%
6 month interest rate	4.70%
7 month interest rate	1.50%
9 month interest rate	4.60%
12 month interest rate	4.55%
24 month interest rate	3.95%
36 month interest rate	3.75%
48 month interest rate	3.00%
60 month interest rate	3.05%
Minimum Opening Deposit	$5,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Min Deposit	$5,000
Available to children	Not available for children

Key features

Terms from 1 month to 5 years

You can select how long you’d like to lock your funds away, from as little as 1 month to as long as 5 years at a time.

Fixed interest rate

You’ll earn a fixed interest rate on the term of your choice for the life of the term. This means the rate won’t change until your term comes to an end, making it easy to plan your exact return on investment.

Invest between $5000 and $5 million

You need a balance of at least $5000 to open an Australian Unity Term Deposit account, and you can invest up to $5 million.

Interest payments

For all terms under 12 months you’ll receive your interest at account maturity. For terms 18 months to 5 years you can choose to receive your interest payments half yearly or annually.

No account fees

There are no set up fees or monthly account keeping fees charged with this account.

Australian Government bank guarantee scheme

Your deposit up to $250,000 is protected under the government’s bank guarantee scheme.

How to apply

If you've compared your options and have decided an Australian Unity Term Deposit is right for you, you can easily apply online in a matter of minutes.

First, you need to open an Australian Unity Transaction Account. Once you’ve opened this account, you can log into your Internet banking portal and open a new term deposit account by transferring money from your transaction account.

Make you meet the following eligibility criteria, and make sure you have the necessary documents handy.

Eligibility

You're over 18 years of age
You're a permanent Australian resident
You're investing at least $5,000

Documentation needed

Details of your Australian Unity Transaction Account
Personal details including name, date of birth, phone number, residential address and email address
Personal ID in the form of a driver's license, passport or Medicare card
Tax file number (if you don't wish to pay withholding tax)

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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. 4.75%	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
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
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BCU Term Deposit $1,000 min. deposit$999,999 max. deposit	3 Mths p.a. 4.85%	4 Mths p.a. 4.90%	5 Mths p.a. 4.00%	6 Mths p.a. 4.90%	7 Mths p.a. 4.00%	11 Mths p.a. -	12 Mths p.a. 4.70%	24 Mths p.a. 3.80%	Go to site More Info Compare
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Alison Finder

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Whelan

August 15, 2023

Do you accommodate joint term deposits and is the Guarantee for $500K being $250K each?

Alison Banney Finder

September 21, 2023

Hi, you’ve reached Finder. Australian Unity does allow you to open a joint term deposit, and yes the government guarantee is per person (so $250k each).

Gary

August 15, 2023

This is my second request.

Can the fixed term deposit be paid monthly on a 5.25% 12 month deposit.

Gary

Alison Banney Finder

August 23, 2023

Hi Gary, as noted in the information on this page for terms of 12 months or less interest will be paid at maturity. And the current 12 month fixed rate this bank offers is 5.00% p.a. (not 5.25% p.a.).

greg

August 14, 2023

is the interest paid monthly

Alison Banney Finder

August 14, 2023

Hi, for terms over 12 months you can choose to receive interest monthly, quarterly, annually or at maturity.

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

Australian Unity Term Deposit

Pros

Cons

Key features

Terms from 1 month to 5 years

Fixed interest rate

Invest between $5000 and $5 million

Interest payments

No account fees

Australian Government bank guarantee scheme

How to apply

Eligibility

Documentation needed

Compare other term deposit accounts

Compare other products from Australian Unity

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