Term Deposit Accounts

Shielding your funds from the market’s ups and downs.

Term Deposit Accounts

Shielding your funds from the market’s ups and downs.

The details

Here are some of our hot rates!

Talk to us about your Fixed Term Deposit needs. 

Current Rates

4.9% for 9 months

For balances from $100,000 to <$1,000,000 with interest paid at maturity. Talk to us about rates for other balances, terms and interest payment types. 

4.6% for 3 months

For balances from $100,000 to <$1,000,000 with interest paid at maturity. Talk to us about rates for other balances, terms and interest payment types. 

A few reasons you'll love our Fixed Term Deposits

We’re always looking for ways to support you and provide ways to help you level up your finances. From intuitive budgeting tools to seamless setup, Summerland Bank’s Fixed Term Deposits are expertly designed to give you everything you need on the path to financial freedom.

Fixed Term Deposit Account Features
24/7 visibility via app and internet banking
Choice of interest paid monthly or at maturity
Choice of interest paid to your transaction or savings account or capitalised
Minimum balance $1,000

Get started with Summerland Bank

Whether you’re just starting out on your financial journey, or you’re looking to take your banking to the next level, we make it easy. Dedicated to giving you friendly and personalised service, experience the difference of a customer-owned bank with community at heart.

Setup in five minutes flat

Say goodbye to lengthy processes and experience our hassle-free account setup in the time it takes you to hang the washing out.

Help is only a call away

We’re here to make your experience as easy as possible. Connect with us online, visit us at your nearest branch, or simply give us a call on 1300 728 728.

Compare rates on term deposits

Term Deposits

Interest paid at maturity

Term$1,000 < $20,000$20,000 < $100,000$100,000 < $1,000,000
3 months4.45%4.55%4.65%
4 months3.80%3.90%4.00%
5 months3.80%3.90%4.00%
6 months4.20%4.30%4.40%
7 months4.20%4.30%4.40%
8 months4.20%4.30%4.40%
9 months4.70%4.80%4.90%
10 months4.70%4.80%4.90%
11 months4.70%4.80%4.90%
12 months4.60%4.70%4.80%
13 months4.60%4.70%4.80%
18 months4.70%4.80%4.90%
24 months4.80%4.90%5.00%
36 months3.90%4.00%4.10%
48 months3.80%3.90%4.00%
60 months3.80%3.90%4.00%

Fixed Term Deposit Account FAQs

You can invest with as little as $1,000

Our Fixed Term Deposits are account fee free!

No stress, you can still have access to your money if you need it however there will be an interest penalty. See our fees, charges and transaction limits schedule for details. 

Why choose a Fixed Term Deposit?

At Summerland Bank, we love spending time in the great outdoors. And we like to think about our Fixed Term Deposit Account as planting a seed in a nurtured garden.

Our dedicated and experienced team are here to make sure your hard-earned money gets the care, safety, and sunlight it needs to grow over time. Allowing you to invest funds for a defined period at a guaranteed interest rate, you can relax knowing your funds are secure, and safe from market volatility.

Guaranteed returns

This fixed rate option is designed to give investors like you the peace of mind of secure, predictable returns over a period of time.

No monthly fees

Maximising your savings with no monthly account fees or hidden surprises.

Competitive rates

We offer competitive interest rates for term deposits, enabling your money to grow at a faster pace.

Balances risk

You might have heard of ‘diversification’ — it’s a way to reduce your overall risk by balancing more volatile investments with more stable assets. A fixed term deposit is definitely the latter, helping to minimise your exposure to the market.

Builds good habits

Nothing flexes your discipline muscles like a fixed term deposit. Keeping your money safe and in one place reduces the temptation of the next ‘shiny’ thing.

Choose your time period

Choose a fixed term period that aligns with your financial goals, and get started with a minimum deposit of $1,000, while enjoying competitive interest rates guaranteed.

Fine Print

This is general advice only and may not be right for you. Please read the Financial Services Guide and Privacy Information and Accounts and Access Facilities Conditions of Use before making decisions. Target market determination available on request at our branches.

For monthly interest payments, the applicable interest rate will be the rate quoted above less
0.10%p.a For interest rates on deposits of $1,000,000 or greater please call us.
These rates are effective as at 29 September 2023.
Rates are subject to change. Conditions, fees, and eligibility criteria may apply. Terms and Conditions available upon request. Interest rates are expressed as a percentage per annum, and interest is calculated daily unless otherwise stated.

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