Choose from some of our most popular interest rates below, or call our team to discuss term deposit options up to 36 months. Once you have selected your term, your funds are invested for the time you have chosen.
Rates below apply to deposit amounts of $5,000 and over.
All rates on this page are current as at 30 October 2024 and subject to change.
Qudos Bank has great term deposit interest rates to suit your investment and SMSF needs. Browse our rates and terms or use our term deposit calculator to find the term deposit that's right for you.
You'll first need to decide how long you would like to invest, what amount and how often you'd like to receive your interest payments on your term deposit. Depending on the term, you can choose to receive payments monthly, annually or at maturity.
For existing members, login to Online Banking and follow the steps to open your term deposit. For joint accounts, call us and we'll set up your account for you.
New members will need a General Savings Account before they can apply for a term deposit.
Congratulations! Your term deposit is now open and ready for you to transfer funds from your savings account. You'll receive documents confirming the account is opened and details of when you'll receive your interest payments. Then all that's left to do is sit back while your account balance grows.
At the end of your selected term, you'll have the choice to either roll over the funds into a new term deposit or transfer the funds to your chosen account. Either way, you're on your way.
Are you an existing Qudos Bank member?
It's easy to join online in just a few minutes!
1. Open a General Savings Account online.
2. Once you've opened your account, login to Online Banking.
3. Click on the Apply and Create Account buttons in the top menu.
4. Select your term and interest options and follow the prompts to open your term deposit account.
Note: to open a new joint account both parties must be present
Got questions? We've got answers.
Yes, Qudos Bank Term Deposits are available for SMSFs. To open a Term Deposit account, please send us an enquiry or call us on 1300 747 747.
Yes, your savings are safe with us under the government guarantee on deposits.
The Financial Claims Scheme (FCS) also known as Australian Government Deposit Guarantee, provides protection for customers in the unlikely event that a financial institution fails. This includes providing customers with quick access to deposits in banks, building societies and credit unions.
Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other ADI that is incorporated in Australia and authorised by the APRA.
For more information, head to our Government Guarantee page.
Selecting the right interest payment frequency for your Term Deposit is important as it impacts how much interest you earn at the end of term.
If you opt to be paid monthly:
If you opt to be paid at maturity:
At Qudos, there is no difference in the interest rate when comparing the frequency at which interest is paid to you.
You'll receive written notice one month prior to maturity with options allowing you to withdraw funds or reinvest for a new term. If we don't hear from you, your Term Deposit will automatically renew or transfer as per your latest confirmed arrangement.
To access your Term Deposit before maturity give us a call on 1300 747 747, send us a Secure Mail message or visit us in branch.
Once you've invested in a Term Deposit, your funds are invested for the term you have chosen. You may withdraw or transfer the balance of your term deposit early by giving us 31 days notice.
However, if you do, we'll reduce the interest on the term deposit from the date it was opened until the date of withdrawal or transfer by 2% per annum, or the Term Deposit rate if it is less than 2%.
We have the discretion to delay the withdrawal or transfer until the end of the notice period (but not beyond the maturity date). If you have already been paid interest, the reduction will be deducted from the balance of the term deposit.
You can choose to have your funds transferred to your Qudos Bank savings account. Otherwise, when setting up your term deposit online you can choose to have the interest paid into an external bank account.
A Term Deposit is an investment product offered by banks and financial institutions. Term deposit products involve depositing a specific sum of money for a predetermined term, typically spanning from a few months to several years, which earns interest at a fixed rate of interest during the term.
A Term Deposit is an account designed to help you grow your savings. Customers with a Term Deposit choose a certain amount of time to lock up their savings, during which they are unable to access and use the funds but earn interest on that amount. At the end of the agreed term, customers will have grown their initial savings amount.
Finding a Term Deposit which meets your needs can provide benefits, including:
The answer to this question depends on your saving and investment goals.
Term Deposits can be a great option if you don’t need to access your savings for a period of time but would like to earn a fixed interest rate regardless of economic conditions. For example, people looking to save for a deposit on a home or wanting their money to work for them into retirement, might find term deposits to be suitable. Term deposits are a low-risk way of diversifying your investment portfolio. Because of their safe, low-risk nature they generally come with lower return compared to other investments.
Are you making the most of your money? Discover the pros and cons of investing in term deposits.
^ Interest can be payable monthly (standard terms only), or at maturity (terms <12 months, including special terms) or annually and at maturity (terms>12 months). Standard terms are available for 3, 6, 9, 12, 24 and 36 months. Special terms available for 5, 7 and 11 months.
Subject to our approval, you may withdraw or transfer the balance of your term deposit early by giving us 31 days' notice. If you choose to do this, we will reduce the interest rate on the term deposit from the date it was opened until the date of withdrawal or transfer by 2% per annum. If your rate is less than 2% p.a. you will receive no interest. We have the discretion to delay the withdrawal or transfer until the end of the notice period (but not beyond the maturity date). If you have already been paid interest, the reduction will be deducted from the balance of the term deposit.
The information on this page has been prepared without taking into account any person’s financial situation, needs and objectives. Before you make any decisions you should consider whether it is right for you and seek independent legal, financial and taxation advice.
You should read our Terms and Conditions for Savings Accounts and Payment Services, Supplementary Terms and Conditions for Term Deposits and Financial Services Guide before deciding whether to obtain any of our financial products or services. Target Market Determination available here.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
