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Term Deposits - Greater Bank

Lock in a great rate!

Term Deposit interest rate 5.35 % p.a.
12 months - $5,000 and over - Interest on maturity

A Term Deposit can offer a higher interest rate on your investment with the confidence of knowing how much your money will earn. Lock in a competitive interest rate at a term that suits you – from one month to five years.

Why choose our Term Deposits?

Invest with confidence

Lock in an interest rate and term to invest part of your savings, knowing what your return will be.

Invest your way

Range of term options to suit your needs – from one month to five years.

Interest options

You have the option to have interest paid monthly, six-monthly or at maturity (subject to the term chosen)^.

More for you

No monthly fee or monthly account-keeping fees.

At maturity

Option to reinvest, make changes or withdrawals at maturity.

Manage your money 24/7

Securely view your Term Deposit whenever you need to, wherever you are via our app or online banking.

 

Rates are effective as at 9am Friday 19/06/2026 and are subject to change without prior notice.

Term Deposit interest rates - interest at maturity or 6 monthly interest

Term Deposits (interest at maturity) $1,000.00 - $4,999.99 $5,000.00 - $49,999.99 $50,000.00+
1 Month 0.01% p.a. 1.00% p.a. 1.00% p.a.
2 Months 0.01% p.a. 1.00% p.a. 1.00% p.a.
3 Months 0.01% p.a. 4.50% p.a. 4.50% p.a.
4 Months 0.01% p.a. 3.75% p.a. 3.75% p.a.
5 Months 0.01% p.a. 3.75% p.a. 3.75% p.a.
6 Months 0.01% p.a. 5.00% p.a. 5.00% p.a.
7 Months 0.01% p.a. 3.60% p.a. 3.60% p.a.
8 Months 0.01% p.a. 3.60% p.a. 3.60% p.a.
9 Months 0.01% p.a. 3.60% p.a. 3.60% p.a.
10 Months 0.01% p.a. 3.60% p.a. 3.60% p.a.
11 Months 0.01% p.a. 3.60% p.a. 3.60% p.a.
12 Months 0.01% p.a. 5.35% p.a. 5.35% p.a.
13 Months 0.01% p.a. 3.00% p.a. 3.00% p.a.
14-23 Months 0.01% p.a. 3.00% p.a. 3.00% p.a.
24-35 Months 0.01% p.a. 4.25% p.a. 4.25% p.a.
36-47 Months 0.01% p.a. 3.75% p.a. 3.75% p.a.
48-59 Months 0.01% p.a. 3.55% p.a. 3.55% p.a.
60 Months 0.01% p.a. 3.55% p.a. 3.55% p.a.

At maturity option available for terms up to 13 months. Six-monthly option available for terms of 14 months or more.

Rates are effective as at 9am Friday 19/06/2026 and are subject to change without prior notice.

Term Deposit interest rates - monthly interest

Term Deposit - monthly interest $1,000.00 - $4,999.99 $5,000.00 - $49,999.99 $50,000.00+
6 Months 0.01% p.a. 4.90% p.a. 4.90% p.a.
7 Months 0.01% p.a. 3.50% p.a. 3.50% p.a.
8 Months 0.01% p.a. 3.50% p.a. 3.50% p.a.
9 Months 0.01% p.a. 3.50% p.a. 3.50% p.a.
10 Months 0.01% p.a. 3.50% p.a. 3.50% p.a.
11 Months 0.01% p.a. 3.50% p.a. 3.50% p.a.
12 Months 0.01% p.a. 5.25% p.a. 5.25% p.a.
13 Months 0.01% p.a. 2.90% p.a. 2.90% p.a.
14-23 Months 0.01% p.a. 2.90% p.a. 2.90% p.a.
24-35 Months 0.01% p.a. 4.15% p.a. 4.15% p.a.
36-47 Months 0.01% p.a. 3.65% p.a. 3.65% p.a.
48-59 Months 0.01% p.a. 3.45% p.a. 3.45% p.a.
60 Months 0.01% p.a. 3.45% p.a. 3.45% p.a.
Early withdrawals
  • For Term Deposits opened or last renewed before 23 February 2026:

If you withdraw funds before the maturity date, a reduced interest rate of 0.01% p.a. will apply for the period your funds were invested.

  • For Term Deposits opened or renewed from 23 February 2026:

You must provide 31 days’ notice for an early withdrawal. If you withdraw before maturity, your interest rate will be reduced, based on your shorter investment term.

Early withdrawals can significantly reduce the interest you earn and may require repayment of interest already paid. See here for more details and FAQs, including exceptions available for financial hardship.

Fees

Account-keeping fee Nil
Payment service creation fee (staff assisted payment) $2.50
EFT interest payment elsewhere fee $0.50

Other fees and charges apply for certain services or special transactions you request. See the product Terms and Conditions for account terms, conditions, fees and charges.

PDF
Current Product Schedule - Term Deposit 127kB

Compare all savings accounts Compare all savings accounts

 

How do I open a Term Deposit?

I don't bank with Greater Bank

Become a Greater Bank customer in minutes by completing our secure online form and validating your identity.
We’ll send you an email and SMS with temporary access details to online banking. Simply log in and complete your account opening within the app or online banking.
That’s it. Your account is ready to use! Don’t forget to download our app so you can manage your money anywhere, anytime.

I already bank with Greater Bank

Log into our app or online banking.
Double-check all your details are correct.
That’s it. Your account is ready to use! Too easy.

What you'll need to open a Term Deposit

To open a Greater Bank Term Deposit online, you must be an Australian citizen or permanent resident over the age of 18, and have an Australian address;
In order to verify your identity, you'll need any two of; your current Australian driver's licence, Medicare, or passport details;
Your Tax File Number (TFN) is optional, but if you don't provide it we may have to collect Withholding Tax on the interest you earn. You can always add your TFN later by calling our Contact Centre at 13 13 86.

What is a Term Deposit?

A term deposit is a type of account where you deposit an amount of money for a set period of time (the investment term) and earn a fixed rate of interest.

A term deposit may be suitable if you are looking to lock away your money at a fixed interest rate for a fixed period of time. You can access your money early by giving us 31 days’ notice*.

If you may need to immediately access your funds, another account type may be more suitable for you.

Peace of mind

Deposits up to $250,000 per account holder per authorised deposit-taking institution (ADI) are guaranteed under the Australian Government’s Financial Claims Scheme.

Getting started is easy

A Greater Bank term deposit can be opened with as little as $1,000 and can be opened as a single or joint account.

 

 

Tools and support

There is no maximum amount for our deposit accounts.

Deposits up to $250,000 per account holder per authorised deposit-taking institution (ADI) are guaranteed under the Australian Government’s Financial Claims Scheme.

Greater Bank and Newcastle Permanent are both parts of Newcastle Greater Mutual Group Ltd, a single ADI. Therefore, a single $250,000 limit will apply to the aggregate balance of any eligible accounts held with Greater Bank and Newcastle Permanent.

We’ll send you a maturity notice before your maturity date, outlining your options. At maturity, you can:

  • Withdraw your funds
  • Reinvest for a new term
  • Change your investment details

If we don’t receive instructions, your Term Deposit will automatically renew for the same term and payment frequency (or closest equivalent) at the interest rate applicable on the maturity date.

Account terms, conditions, fees and charges apply.

A Term Deposit lets you invest a set amount for a fixed term at a fixed interest rate. It may suit you if you want certainty and don’t need immediate access to your funds. If you think you’ll need quick access, consider other deposit options.

Maturity refers to the end of your term. At maturity, you can decide whether you wish to withdraw either some or all of your funds. Alternatively, you can ‘reinvest’ for a new term.

Account terms, conditions, fees and charges apply.

For Term Deposits opened or renewed from 23 February 2026:

Yes, however, you’ll need to give us 31 days’ notice, and an interest rate adjustment will apply.

For Term Deposits opened or renewed before 23 February 2026:

Yes, you don’t need to provide notice, however the interest rate applicable to your early withdrawal will be 0.01% per annum.

 

In order to access your funds before maturity, you can either visit your nearest Greater branch, or give us a call on 13 13 86. 

Account terms, conditions, fees and charges apply.

The easiest way to access your statement is through our app or online banking.

App

  • Go to Manage > Accounts > Statements

Online banking

  • Log on to online banking and click on ‘Manage’ on the left of screen if accessing online banking via a desktop/browser and navigating down to Accounts and select ‘Statements’. 

Next, select the required account and then select the year you are wanting the statement from.

Then, click ‘view’ on the right of screen next to the required statement to access a PDF version. You can now save or print this file for use.

You can also view Financial Year Interest information by selecting the required account from the home screen and then selecting ‘Details’.

Alternatively, you can call 13 13 86 and request a statement be mailed to you at any time (a fee may apply).

Looking for an interim statement? See how to access one here.

We understand that unexpected life circumstances occur. If you’re facing genuine financial hardship, you can request to have the 31 day notice period and interest rate reduction waived.

To enquire about early access to your Term Deposit, you can contact our Customer Assist Team.

Call us on 1300 653 679 Enquire now

Once we have received your online enquiry, our Customer Assist team will be in contact with you the same day or following business day to discuss your current situation. 

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Maybe you’re not alone. Our FAQs answer some of the more common banking questions we get asked.

Frequently asked questions

Drop into a branch

Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.

Find a branch

Get in touch

Call us Monday to Friday 8:00am – 6:00pm and Saturdays 8:00am – 1:00pm AEST.

Call 13 13 86

Rates are effective as at 9am Friday 19/06/2026 and are subject to change without prior notice.

Account terms, conditions, fees and charges apply.

Any advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the product is suitable for you and read the Terms and Conditions available on request from any branch, greater.com.au, or by calling 13 13 86.

^The available interest payment frequency options vary based on your selected investment term.

*31 day notice period applies to early withdrawals from Term Deposits opened or last renewed on or after 23 February 2026. Term Deposits opened or last renewed before this date are not subject to a notice period. An Interest rate reduction also applies to early withdrawals.