Special Offer
Up to 5.00% p.a. online offer for 11 months
How your interest adds up:
- 4.80% p.a. Fixed Rate Special Offer1 Term Deposit for a Term of 11 months
- PLUS, an additional 0.20% p.a. online bonus offer2 when you open or renew online
Up to 4.90% p.a. online offer for 8 months
How your interest adds up:
- 4.70 p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 8 months
- PLUS, an additional 0.20% p.a. online bonus offer2 when you open or renew online
Offers available from 4/12/2024 on Term Deposits opened or renewed by existing BankSA personal or business customers. Available on deposits of $1,000-$5,000,000 with interest paid monthly or at maturity depending on term. T&Cs Apply.
Not yet a BankSA customer? Please contact a BankSA Branch.
Term Deposit interest rates and terms
Rates apply to deposits of $1,000 to $2,000,000 with interest paid as indicated in the table.
3 months | 6 months | 24 months |
---|---|---|
3.25% p.a. | 3.60% p.a. | 3.80% p.a |
- For term deposits with interest paid at maturity. Rate may differ when interest is paid on another frequency.
- Add 0.20% p.a. to these rates if you’re already with BankSA and opening or renewing online1
- Logon to check for any higher bonus rates you may qualify for.
What is a Term Deposit and how does it work?
Choice of terms
A Term Deposit is a type of savings account where your money is locked away safely for the time you choose.
Fixed interest
The interest rate in place when you open the account is fixed for the whole term, so it doesn’t apply if you withdraw funds early.
Option to reinvest
When the term is over you can withdraw your money or invest some or all of it for another term.
How do I manage my Term Deposit?
- There’s no need to call or visit a branch as you can do it all online or in our app
- You can set up instructions in advance online and update them at any time
- If you want to reinvest some or all of your funds in a new Term Deposit, check the latest rates on offer online plus any bonus rates
- If you want to withdraw your funds, you can provide us with your instructions to transfer them into an account that you nominate.
Read more about managing your Term Deposit
Don't bank online? Please visit any branch to manage your Term Deposit. Or call us.
FAQs about our 0.10% p.a. online bonus rate
The 0.20 p.a. online bonus rate will be applied automatically to your Term Deposit rate when you open online or renew online during the Grace Period3. It’s only available to existing customers who bank online and in the app.
Important information
Term Deposits Terms and Conditions and General Information (PDF 3MB)
- Existing BankSA personal and sole trader customers taking up a Special Offer Term Deposit.
- Opened, or renewed during the grace period, via Internet Banking, the App or by talking to us. Not available in Business Banking Online.
- Not available for Financial Institutions or Government customers.
- For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rate and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
- Term Deposits opened or renewed during the grace period via Internet Banking or the App only. Not available in Business Banking Online.
- The bonus offer will be applied in conjunction with any other rate offer that may apply.
- Not available for customers who are not able to open or renew via Internet Banking (e.g., some joint accounts), business customers except sole traders or Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rate and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
3. Grace Period means 14 calendar days from the date the Term Deposit matures. If the end of the Grace Period would fall on a Sunday or a public holiday, the period ends on the immediately preceding Business Day.