KEEPING YOU SAFE: Safeguarding your financial security is our utmost priority. We employ state-of-the-art encryption and advanced security measures to protect your sensitive information. Learn more about how we keep you safe here.

Alex Bank logo - White

Term Deposits

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

Awards 2021

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

Term Deposit


Fixed Interest Rate2

12-month term with interest paid at maturity

Early access (invite only)

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.

Get certainty with Term Deposits

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

Make your savings work harder for you

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

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.

Choose the fixed term that suits you

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

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.

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.

Save with Alex.Bank

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

Borrow with Alex.Bank

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