Compare Bank Accounts

Provider Account Name Maximum Rate Standard Rate Bonus Rate Account Fees Minimum Balance  
BankSA Term Deposit
Shadow
Maximum Rate
3.20%
Standard Rate
%
Bonus Rate
%
Account Fees
$0
Minimum Balance
$1,000
We Say...

BankSA Term Deposits is an excellent way to save money and earn competitive rates of interest. Terms available range from 1 month to 5 years which means savers will always find a term that is appropriate for them ensuring there is an account available that suits all investment horizons. Minimum deposits start at just $1,000

Why Choose This Account?
  • Offers competitive fixed rates of interest
Additional Information
  • Fee free banking.

Key Features

A Term Deposit is great if you have a long term savings goal, such as a house or a car. You’ll enjoy peace of mind with guaranteed returns and competitive rates.

Why a BankSA Term Deposit

  • Invest your cash securely and get a guaranteed return.
  • Earn competitive interest rates on balances between $5,000 and $5,000,000.
  • No set-up or monthly service fees.

Rates :

  • 1 month = up to 2.25%
  • 2 month = up to 2.25%
  • 3 month = up to 2.25%
  • 4 month = up to 2.60%
  • 5 month = up to 2.25%
  • 6 month = up to 2.25%
  • 7 month = up to 2.60%
  • 8 month – up to 2.25%
  • 9 month = up to 2.25%
  • 10 month = up to 2.25%
  • 11 month = up to 2.25%
  • 12 months = up to 2.70%
  • 24 months = up to 2.75%
  • 36 months = up to 2.75%
  • 48 months = up to 2.80%
  • 60 months = up to 3.20%

 

Our Review

If you are someone who is looking to set up a term deposit with just a small amount that will let you grow your savings over time then you may want to consider the BankSA term deposit account. You have automatic reinvestment options that allows you to choose from between one month to five years and with a minimum investment of just $1,000 there is something available for everyone.

The big advantage with the term deposit is the guaranteed rate of return you can earn on your investment.  Of all the various types of bank accounts in the market it is the term deposit that offered the highest rates of interest available. The disadvantage is you have to lock in your deposit for the agreed period of time. This means for example if you choose a term deposit of five years, then you have to hold your deposit for five years to be able to earn the interest rate that was advertised. This is a small price to pay for a guaranteed return on investment considering all the volatility that occurs in global financial markets.

Another big advantage with this account is the lack of paperwork. You don’t receive a monthly statement because there is no need for one, since this account is not meant for transactions. You receive a confirmation certificate once you open an account and every time the deposit is rolled over. If you want to know how much interest you have earned or you want to know when the deposit matures you can do so either by phone or using internet banking 24 hours a day seven days a week.

BankSA Term Deposit Rates & Info
Account Name
BankSA Term Deposit
Bank
BankSA
Maximum Rate
3.20% p.a.
Interest 1 Month
2.25% p.a.
Interest 6 Months
2.25% p.a.
Interest 12 Months
2.70% p.a.
Interest 24 Months
2.75% p.a.
Minimum Balance
$1,000
BankSA Term Deposit Fees & Charges
Account Fee
$0
Terms & Conditions

Conditions apply.
Special rates will apply for a single term. Standard Term Deposit rates may apply for any subsequent term. Special rates are not available for corporate, institutional or government. Before making a decision, it’s best to read the terms and conditions.

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