Term Deposits

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

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

4.55%p.a.

Fixed Interest Rate²

12-month term with interest paid at maturity

Our Alex Bank term deposit is currently in limited release. If you’ve already been invited to open an account you can login to access it.

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

If you don’t need immediate access to these funds you can have the security of locking in a fixed rate of return.

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

You can choose from a range of terms that suit your life plans.

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.

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.

Make your hard earned dollars work for you with an Alex Bank savings account.

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