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Term Deposits

Lock away your savings and watch them grow with competitive interest rates and your choice of fixed investment terms.

Australian Government $250k deposit guarantee badge

Your deposits with Alex.Bank up to $250,000 are protected by the Australian Government Financial Claims Scheme.

Term Deposit

4.70%p.a.

Fixed Interest Rate2

12-month term with interest paid at maturity (other terms available).

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Early access (invite only)

Our Alex.Bank term deposit is currently in limited release. If you’ve already been invited or received an offer, follow the steps to open an account.

Get certainty with Term Deposits

Feel confident knowing exactly how much your money will earn with an Alex.Bank Term Deposit.

Competitive Rates

Get competitive rates on our Fixed Interest Term Deposits with multiple term and maturity options available.

Rest assured, we’re government guaranteed!

Combined balances of up to $250,000 per account holder are secured by the Australian Government's Financial Claims Scheme deposit guarantee.

Fast Turnaround

It’s quick and easy to apply online – the average time is 3 minutes.

Let your savings take off with an Alex.Bank Term Deposit that also earns you Qantas Points.

Find out more here

Learn more

Read our product description and fee guides to understand our Term Deposit product better.

Consider the Target Market Determination and Terms and Conditions before making a decision.

Term Deposit Target Market Determination

Term Deposit Terms and Conditions

Important information about your Alex Bank Term Deposit

Alex Bank Term Deposit Rate Guide - Intermediary

Alex Bank Term Deposit Rate Guide - Direct

Term Deposit of the Year^

For a second consecutive year Alex.Bank have taken home Term Deposit of the Year and Term Deposit - Best for Value at the WeMoney Awards!

Frequently asked questions

  • Can I access my Term Deposit before the maturity date?

    Term Deposits are designed to offer the certainty of a fixed rate for the agreed investment term. 

    They are not ‘at call’ which means you do not have access to your Term Deposit once it has been invested. Your funds are locked away for the agreed investment term. 

    Before opening a Term Deposit, if you reasonably expect that you will need access to your funds, a term deposit is not suitable for you.

    However, should your financial situation change during the fixed term, you may request an early withdrawal of your funds prior to the maturity date provided that you give us 31 days’ notice. The notice period will start on the day you request the early withdrawal. We do not charge any fees for an early withdrawal but an interest adjustment will apply.

  • How do I open an Alex Bank Term Deposit?

    Our Term Deposit product is currently only available for distribution via invite or selected Alex Bank-approved deposit Intermediaries. This means you will need to receive a direct invitation from Alex Bank or be a client of one of our Intermediaries to apply.

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Make your hard earned dollars work for you with an Alex.Bank Savings Account or Term Deposit.

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Get a competitive rate, and flexible repayment options with our award-winning unsecured personal loan.

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