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What is a term deposit?
Beyond Bank term deposits are a great way to invest and with a guaranteed interest rate for a fixed period, you’ll always know exactly what your investment is worth.
When you apply, you choose how much you'd like to invest and how long you want the money invested. The minimum deposit amount is $2,000 and term lengths range from three months to five years. The interest rate you earn depends on the length of the fixed term you choose.
What are the downsides of a term deposit?
Term deposits are a great strategy to help you save more, but they may not suit everyone looking to save. Some things to consider are:
- you won’t have immediate access to the money you set aside — withdrawals require 31 days’ notice and approval, and withdrawing funds before the set date will incur an Early Redemption Administration Fee and reduced interest
- if you plan on making additional contributions, a savings account is likely a better option as you’ll have greater flexibility to add to your balance.
Interest rates.
Standard term deposits
Interest paid at maturity
| Amount ($) | 3 Month | 6 Month | 9 Month |
| $2,000 - $49,999 | 3.85% p.a. | 4.20% p.a. | 3.70% p.a. |
| $50,000 - $199,999 | 4.10% p.a. | 4.35% p.a. | 3.80% p.a. |
| $200,000 plus | 4.30% p.a. | 4.65% p.a. | 3.85% p.a. |
Interest paid annually
| Amount ($) | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year |
| $2,000 - $49,999 | 4.90% p.a. | 4.35% p.a. | 3.60% p.a. | 3.60% p.a. | 3.60% p.a. |
| $50,000 - $199,999 | 5.05% p.a. | 4.50% p.a. | 3.65% p.a. | 3.65% p.a. | 3.65% p.a. |
| $200,000 plus | 5.15% p.a. | 4.60% p.a. | 3.65% p.a. | 3.65% p.a. | 3.65% p.a. |
Interest paid monthly
| Amount ($) | 1 Year | 2 Year | 3 Year |
| $2,000 - $49,999 | 4.80% p.a. | 4.25% p.a. | 3.50% p.a. |
| $50,000 - $199,999 | 4.95% p.a. | 4.40% p.a. | 3.55% p.a. |
| $200,000 plus | 5.05% p.a. | 4.50% p.a. | 3.55% p.a. |
Interest on all term deposits is calculated daily on the whole balance of the account and paid into a Beyond Bank Australia savings account of your choice. Interest rates are subject to change without notice. Minimum investments start from $2,000.
Fees and charges.
| Fees and Charges that apply | Amount |
| If you choose to redeem your term deposit prior to maturity (in whole or part), an Early Redemption Administration Fee will apply as well as reduced interest. Early Redemption Fee is: | $25.00 |
View our Fees and Charges Booklet for the full details of other transaction and service fees that may apply.
How to open a term deposit.
New members
To open a term deposit with Beyond Bank you will need to be 18+ years of age and:
- have a minimum of $2,000 to deposit
- be an Australian citizen or permanent resident
- be a member of Beyond Bank.
New members can open a transaction account and apply for a term deposit online as an existing member - it'll take you less than 10 minutes.
Existing members
Opening a term deposit is easy, simply log into Internet Banking or the Mobile App and add a term deposit.
Alternatively, you can give us a call or visit your local branch.
At the end of a term deposit.
The end of your term deposit is known as 'maturity'.
On the term deposit maturity date, the principal and any interest which has accrued but not been paid, will become payable to you. Prior to maturity we will send you a renewal notice which:
- shows details of your term deposit including the principal, interest payable and maturity date, and
- advises you of our prevailing term deposit rates.
Prior to the maturity date you may notify your intention at maturity of either:
- withdrawing the term deposit (and any interest accrued but not paid), or
- reinvesting all or part of the term deposit (and any interest accrued but not paid) for a further term of your choice.
If you notify us of your intention to withdraw, the term deposit funds will be transferred to another account you have with us on the date of maturity.
Refer to our Product Guide for full details.
Want more flexibility?
A Purple Bonus Saver gives you a high interest rate, whilst allowing you to continuously contribute and grow your savings.
Other accounts you might be interested in.
monEsaver Internet Savings Account
High-interest savings and easy access to your money.
Find out more
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Interest rates are current as at 19 May 2026 and are subject to change. |
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Account holders may be covered by the Commonwealth Government's Financial Claims Scheme (FCS). Under the FCS, deposits are protected up to a limit of $250,000 for each account holder at each bank, building society and credit union (also known as authorised deposit-taking institutions or ADIs) that is incorporated in Australia and authorised by APRA. Payments under the FCS are subject to a limit for each depositor. See the FCS website for more information at https://www.fcs.gov.au. |
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Terms, conditions, lending criteria, fees and charges apply. For full details please review our Financial Services Guide, Product Guide, Fees and Charges Guide and Target Market Determinations. These are available on our website at beyondbank.com.au/about-us/corporate-governance/disclosures, by calling us on 13 25 85 to request a copy or by visiting a branch. They will also be provided at the time of acquiring any product. |
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This information is of a general nature only and does not take into consideration your objectives, financial situation or needs. The information must not be relied upon as financial product advice. Before acquiring any product you should read the relevant guides, Product Disclosure Document, and consider whether a product is suitable for your circumstances to decide if a product is right for you. |
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All products and services are provided by Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit Licence 237856. © 2026. |