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Term Deposits

Watch your savings grow with competitive fixed interest rates by applying for one of Alex.Bank award winning^ Term Deposits.

Australian Government $250k deposit guarantee badge

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

Alex.Bank Term Deposit

4.50%p.a.

Fixed Interest Rate2

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

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Competitive Rates

Select from great rates across different terms and interest payment options to suit your investment needs.

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Simple and Secure

The application process is 100% digital, simple and secure, with deposits up to $250k protected by the Government Guarantee Scheme.

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Fast turnaround

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

Apply in 4 Easy Steps

Calculate your Term Deposit

To get started, use our calculator below. Simply enter your deposit amount and your fixed investment term.


Apply online in minutes!

Gather your ID and financial information to complete our quick 3 minute application form.


Confirm your identity

You’ll be prompted to perform a digital ID check with a photo of your ID and headshot. It’s safe, secure and as easy as a selfie!


Fund your term deposit

You’ll have 7 calendar days to fund your Term Deposit and start earning interest on your investment.

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

Find out more here

Verify Your ID with Alex.Bank in a Few Simple Steps

Select your ID Documentation

You can choose from physical Driver’s License or Passport to verify your identity.

Entering your Personal Information

When completing your application please make sure your details match with the ID document you have selected, including Full Name and Date of Birth.

Secure Document Capture

Using our secure ID capture process, take a picture of your ID document where there is a picture of you, for example the front of your Driver’s License. Follow the instruction to ensure there is no glare and your ID fits in the capture window.

Take a Selfie

By taking a selfie of in a well lit space it allows us to confirm your identity and helps us protect you and your savings.

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!

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

Frequently asked questions

  • Can I open a joint account or an account in the name of a trust or company?

    No. At the moment, our Term Deposits are only available for individual customers.

  • 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.

    If you need to withdraw your Term Deposit funds early, you'll need to give us 31 days' notice (but not beyond the maturity date) to withdraw all of your funds if your Term Deposit hasn’t reached the end of the fixed term.

    An interest adjustment may apply if you withdraw your funds early. To see an example of how the Prepayment Interest Adjustment is calculated, see our Terms & Conditions.

    If you’re experiencing hardship and need access to your funds immediately or before the end of the 31-day notice period, please contact Alex.Bank as soon as possible and we’ll discuss your situation with you. Under some hardship circumstances, you may be able to access your funds immediately and/or qualify to have the prepayment adjustment and prepayment administration fee waived.

    To assess your prepayment request due to hardship, you’ll need to provide us with evidence (e.g. invoices, Statutory Declaration, etc.) supporting your reason(s) for needing to withdraw your funds immediately or before the end of the 31-day notice period. Any evidence you provide must satisfy our requirements. If you’re not sure what documents you need, our staff can help.

  • What is my nominated bank account?

    You must nominate a valid Australian bank account for us to pay your interest and repay your investment into. The account name must be in the same name as your term deposit. The account can be held with any other Australian bank.

  • How do I fund my Term Deposit?

    To fund your Alex.Bank Term Deposit, you have two options to select from:

    1. Perform direct deposit or ‘Pay Anyone’ transaction from your existing bank account to Alex.Bank using BSB 259-000 and your Alex.Bank Term Deposit Account number. Please keep in mind that ‘Pay Anyone’ transfers could take 1-2 business days to be available in your Term Deposit.
    2. Perform a BPAY® to your Alex.Bank Term Deposit using biller code 274753 and your Alex.Bank reference number supplied in your welcome email.

    You can transfer up to $250,000 per day to your account subject to the any daily limits applicable to the account you are transferring from.

Save with Alex.Bank

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

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Borrow with Alex.Bank

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

Personal Loan