Internet Banking

Savings and investments

Term Deposit

If you need a guaranteed income from your savings, or you want to earn more, a Rural Bank Term Deposit is ideal. With the security of a competitive fixed interest rate and a choice of terms, you’ll see your money grow and your financial goals get closer.

You don’t have to put away a lot – the minimum opening and ongoing balance is $500. You can make an opening deposit by direct debit, transferring funds electronically to your new account once established (we will email you your account details) or by posting a cheque.

  • Available for personal, business and self-managed superannuation applicants
  • A choice of a self managed Rural Bank ONE (online) or a Staff Assisted (in branch/phone) Term Deposit.
  • Competitive interest rates
  • Terms from 1 month to 5 years
  • A low minimum deposit of just $500
  • No monthly account keeping fees
  • A wide range of interest payment options depending on the term selected

Compare Rural Bank ONE (online) versus Staff Assisted (in branch/phone) Term Deposits

  Rural Bank ONE (online) Term Deposit Staff Assisted Term Deposit
Suitable for  Personal, Business and DIY Super customers who want to set up and manage their Term Deposits online. Personal and business customers who want to deal face to face, or via the phone to set up and manage their Term Deposits.
Easy online application (paperless) Yes, for applicants who satisfy the requirements for online identity verification. Or alternatively print the online FMD application and post your documents. No, complete your paper based application and either drop into your nearest branch or post to us.
Available terms 3, 6 or 12 months. Range of terms from 1 month to 5 years.
Interest payment options At maturity. A choice of monthly, quarterly, annually or at maturity, depending on the term selected.
Opening Deposit options >  Direct debit from another account. This becomes the nominated account for interest payments for redemptions.
>  Post a cheque to Rural Bank payable to the account holder/s or Rural Bank.
>  Transfer funds from another account
>  Post a cheque to Rural Bank, payable to the account holder/s or Rural Bank. Please note, your term deposit will only be able to be redeemed by cheque in favour of the account holders.
>  Transfer funds from another account.
Must register for Rural Bank Internet Banking Yes. No.
How you can maintain or redeem your term deposit We will not maintain or redeem your account before receiving a secure email via Rural Bank Internet Banking from you. You can maintain or redeem your account by person, phone and by secure email via Rural Bank Internet Banking.
How to apply Choose from 3, 6 and 12 month online Term Deposits. Contact us on 1300 660 115 or email us.
Want to know more Visit the Rural Bank ONE website. Contact us on 1300 660 115 or email us.

How do I apply / find out more?

Related documents

Frequently asked questions

Term Deposit interest rates (online)

Online Term Deposit (Rural Bank ONE)

 

3 months
6 months
12 months

Personal Term Deposit

3 months - 2.40%
6 months - 2.60%
12 months - 2.65%

Business Term Deposit

3 months - 2.40%
6 months - 2.60%
12 months -2.65%

DIY Super Term Deposit

3 months - 2.40%
6 months - 2.60%
12 months - 2.65%

Interest rates quoted on a per annum basis. Interest rates are current as of 1 March 2017 and are subject to change without notice. Interest on Rural Bank ONE Term Deposits is calculated daily and paid at maturity. Minimum deposit $500, for interest rates on deposits over $1 million please call us on 1300 660 115 or email us. For further details please visit the Rural Bank ONE website.

Term Deposit interest rates (in branch/phone)

Short Term Deposit (1 to 9 months)

 

1 month
2 months
3 months
4 months
5 months
6 months
9 months

$500 to
$4,999

1 month - 0.50%
2 months - 0.50%
3 months - 0.50%
4 months - 0.50%
5 months - 0.50%
6 months - 1.00%
9 months - 1.00%

$5,000 to $24,999

1 month - 0.75%
2 months - 0.75%
3 months - 2.20%
4 months - 0.75%
5 months - 0.75%
6 months - 2.35%
9 months - 1.25%

$25,000 to $49,999

1 month - 1.00%
2 months - 1.00%
3 months - 2.20%
4 months - 1.00%
5 months - 1.00%
6 months - 2.35%
9 months - 1.50%

$50,000 to $149,999

1 month - 1.25%
2 months - 1.25%
3 months - 2.20%
4 months - 1.25%
5 months - 1.25%
6 months - 2.35%
9 months - 1.75%

$150,000 to $500,000

1 month - 1.50%
2 months - 1.50%
3 months - 2.20%
4 months - 1.50%
5 months - 1.50%
6 months - 2.35%
9 months - 2.00%

$500,000 +

See Money Market.

Long Term Deposit (1 to 5 years) - Interest paid yearly

 

1 Year
2 Years
3 Years
4 Years
5 Years

$500 to
$4,999

1 Year - 1.75%
2 Years - 2.00%
3 Years - 2.00%
4 Years - 2.00%
5 Years - 2.00%

$5,000 to $24,999

1 Year - 2.50%
2 Years - 2.05%
3 Years - 2.05%
4 Years - 2.05%
5 Years - 2.15%

$25,000 to $49,999

1 Year - 2.50%
2 Years - 2.15%
3 Years - 2.20%
4 Years - 2.25%
5 Years - 2.40%

$50,000 to $149,999

1 Year - 2.50%
2 Years - 2.45%
3 Years - 2.50%
4 Years - 2.55%
5 Years - 2.70%

$150,000 to $500,000

1 Year - 2.50%
2 Years - 2.65%
3 Years - 2.70%
4 Years - 2.75%
5 Years - 2.90%

$500,000 +

See Money Market.

Long Term Deposit (1 to 5 years) - Interest paid quarterly

 

1 Year
2 Years
3 Years
4 Years
5 Years

$500 to
$4,999

1 Year - 1.65%
2 Years - 1.90%
3 Years - 1.90%
4 Years - 1.90%
5 Years - 1.90%

$5,000 to $24,999

1 Year - 2.40%
2 Years - 1.95%
3 Years - 1.95%
4 Years - 1.95%
5 Years - 2.05%

$25,000 to $49,999

1 Year - 2.40%
2 Years - 2.05%
3 Years - 2.10%
4 Years - 2.15%
5 Years - 2.30%

$50,000 to $149,999

1 Year - 2.40%
2 Years - 2.35%
3 Years - 2.40%
4 Years - 2.45%
5 Years - 2.60%

$150,000 to $500,000

1 Year - 2.40%
2 Years - 2.55%
3 Years - 2.60%
4 Years - 2.65%
5 Years - 2.80%

$500,000 +

See Money Market.

Long Term Deposit (1 to 5 years) - Interest paid monthly

 

1 Year
2 Years
3 Years
4 Years
5 Years

$500 to
$4,999

1 Year - 1.60%
2 Years - 1.85%
3 Years - 1.85%
4 Years - 1.85%
5 Years - 1.85%

$5,000 to $24,999

1 Year - 2.35%
2 Years - 1.90%
3 Years - 1.90%
4 Years - 1.90%
5 Years - 2.00%

$25,000 to $49,999

1 Year - 2.35%
2 Years - 2.00%
3 Years - 2.05%
4 Years - 2.10%
5 Years - 2.25%

$50,000 to $149,999

1 Year - 2.35%
2 Years - 2.30%
3 Years - 2.35%
4 Years - 2.40%
5 Years - 2.55%

$150,000 to $500,000

1 Year - 2.35%
2 Years - 2.50%
3 Years - 2.55%
4 Years - 2.60%
5 Years - 2.75%

$500,000 +

See Money Market.

Interest rates quoted on a per annum basis and are subject to change without notice. Interest is calculated daily and paid or credited as specified. Exact term in months or maturity date must be specified when applying for Term Deposits.

Financial Claims Scheme

Deposits with Rural Bank are covered by the Financial Claims Scheme.

The following has been provided to inform you on the Financial Claims Scheme.

1. What is the Financial Claims Scheme?

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. 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 authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA). In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

2. How is the FCS limit applied?

The FCS limit of $250,000 applies to the sum of an account holder's deposits under the one banking license. Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name.

Rural Bank Limited also distributes the Farm Management Deposit product through the Rural Finance brand and this is also covered by the FCS. Both Rural Bank Limited and Rural Finance Farm Management Deposits will be considered under the $250,000 limit when in the same name.

3. Where can I get further information on the FCS?

Further information on the FCS is available on the FCS website - www.fcs.gov.au.

Fees and charges

For all Rural Bank fees and charges, download the Schedule of fees and charges document.


Interest rates quoted are subject to change without notice. This information has been prepared without taking into account your personal circumstances, objectives, financial situation or needs. Terms, conditions, fees and charges may apply. Full details are available on application, by phoning our Customer Service Centre on 1300 660 115, online or by visiting your local branch. All information is subject to change. Products are issued by Rural Bank Limited.