Scheduled payments for Thursday 1 January 2026, will be processed in advance on Wednesday 31 December 2025.
Up to
4.20
%
p.a.
Interest rate
Secure, reliable returns and a higher rate of interest
Looking for a low-risk way to grow your savings? A Term Deposit offers a fixed interest rate and guaranteed returns over a set period, so you know exactly what to expect.
With competitive rates and terms from one month to 3 years, it’s a smart choice for investors who want stability and peace of mind. Whether you're investing for a short-term goal or planning ahead, you can earn more and worry less.
Enquire now to open an account and watch your savings soar.
Open a Term Deposit within Internet Banking
Already a Member? Open your Term Deposit instantly online at your convenience. Log on to Internet Banking to open your Term Deposit online now.
Frequently Asked Questions
Log in to Internet Banking, navigate to Account Services and choose Open a Term Deposit. Follow the prompts to choose your term and fund your deposit. If you’re not yet a Member, join online first, then once your Internet Banking is established you can open your Term Deposit online.
Members can open a Term Deposit entirely online in Internet Banking. Our Contact Centre Consultants and our Branch teams are happy to help if you prefer one-on-one assistance. We are here to help.
You’ll see the new Term Deposit in Internet Banking and/or the Mutual App. We’ll also display the maturity date and interest rate in your account summary. We will also mail your Term Deposit Certificate to you.
Term Deposits are designed to be held until maturity. If you request early redemption, reduced interest may apply in line with our Product Disclosure Statement and early redemption instructions. Please review the relevant documents or speak with our team before deciding. We may allow you to break your Term Deposit before the Maturity Date, subject to you first providing us with a valid request in writing no less than 31 calendar days’ prior, unless financial hardship applies. If we allow you to access your term deposit funds before maturity, an interest rate reduction will apply. The amount of interest charged as an interest rate adjustment will depend on how early in the term you seek to access your funds. Percentage of term lapsed: 0% to less than 20% - Interest rate reduction 90% of your deposit rate 20% to less than 40% - Interest rate reduction 80% of your deposit rate, 40% to less than 60% - Interest rate reduction 60% of your deposit rate, 60% to less than 80% - Interest rate reduction 40% of your deposit rate 80% to less than 100% - Interest rate reduction 20% of your deposit rate.
As an authorised deposit-taking institution, deposits with The Mutual Bank are protected by the Australian Government’s Financial Claims Scheme (FCS).
The FCS provides protection to deposit-holders with Australian incorporated banks, building societies and credit unions (known as authorised deposit-taking institutions or ADIs), and general insurance policyholders and claimants, in the unlikely event that one of these financial institutions fails.
The FCS, which has also been referred to as the Australian Government deposit guarantee, is a government-backed safety net for deposits of up to $250,000 per account holder per ADI. It enables account holders’ quick access to deposits that are protected under the FCS.
Financial Claims Scheme
Australian Government Guarantee
Eligible deposits held with The Mutual Bank are protected under the Financial Claims Scheme up to $250,000 per account holder.
Product Features:
Savings and Investments |
|
|---|---|
| Minimum opening balance : | $1,000 |
| Choice of fixed terms : | 1 month to 3 years |
| Interest payment frequencies : | At maturity, monthly, quarterly, half yearly or annually |
| Staff assisted transactions : | Branch and contact centre |
| Investment Term | Interest Payment Frequency | $1,000 to $499,999 | $500,000 to $1,000,000 |
| 1 month | at maturity | 2.70% p.a. | 2.75% p.a. |
| 2 months | at maturity | 3.20% p.a. | 3.25% p.a. |
| 3 months | at maturity | 3.75% p.a. | 3.80% p.a. |
| 4 months | at maturity | 4.20% p.a. | 4.20% p.a. |
| 5 months | at maturity | 2.95% p.a. | 3.00% p.a. |
| 6 months | at maturity | 3.80% p.a. | 3.80% p.a. |
| 7 months | at maturity | 2.95% p.a. | 3.00% p.a. |
| 8 months | at maturity | 2.95% p.a. | 3.00% p.a. |
| 9 months | at maturity | 3.45% p.a. | 3.50% p.a. |
| 10 months | at maturity | 2.95% p.a. | 3.00% p.a. |
| 11 months | at maturity | 2.95% p.a. | 3.00% p.a. |
| 12 months | monthly | 4.00% p.a. | 4.00% p.a. |
| 12 months | quarterly | 4.00% p.a. | 4.00% p.a. |
| 12 months | half yearly | 4.05% p.a. | 4.05% p.a. |
| 12 months | at maturity | 4.10% p.a. | 4.10% p.a. |
| 24 months | monthly | 3.20% p.a. | 3.20% p.a. |
| 24 months | quarterly | 3.20% p.a. | 3.20% p.a. |
| 24 months | half yearly | 3.25% p.a. | 3.25% p.a. |
| 24 months | annually | 3.30% p.a. | 3.30% p.a. |
| 36 months | monthly | 3.40% p.a. | 3.40% p.a. |
| 36 months | quarterly | 3.40% p.a. | 3.40% p.a. |
| 36 months | half yearly | 3.45% p.a. | 3.45% p.a. |
| 36 months | annually | 3.50% p.a. | 3.50% p.a. |
For investment enquiries over $1,000,000 please contact our Members Services team on 1300 688 825.
| Document or Information | View or Download |
| Fees, charges and limits | Download PDF → |
| Target market determinations | Learn more → |
| Interest rates | Learn more → |
| Important documents | Learn more → |
| Compare all savings and investment accounts | Compare now → |
You're gonna love us
The Mutual Bank has been supporting regional communities with trusted banking for over 135 years
We’re proudly customer owned, which means we exist to benefit you. Not external shareholders. Whether you're opening your first account or planning for the future, we’re here with genuine service, great-value products and the kind of care only a mutual can offer.
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