Term Deposits

Lock in your savings for 1 month or up to 5 years with a term deposit, and know exactly what your investment is worth ahead of time.

2.50 % PA
12 month term deposit for $1,000 or more About this rate Open my term deposit
% PA
Rates

Term deposit features

  • Investments from as little as $1,000
  • Terms from 1 month up to 5 years
  • No set up or establishment fees^

Interest Rate
1 month
2 months
3 months
4 months
5 months
6 months
7 months
8 months
9 months
10 months
11 months
12 months
24 months
36 months
48 months
60 months
Interest Rate
0.20%
Interest Rate
0.30%
Interest Rate
0.55%
Interest Rate
0.90%
Interest Rate
0.40%
Interest Rate
0.40%
Interest Rate
0.40%
Interest Rate
0.40%
Interest Rate
1.75%
Interest Rate
0.40%
Interest Rate
0.40%
Interest Rate
2.50%
Interest Rate
2.75%
Interest Rate
2.75%
Interest Rate
3.00%
Interest Rate
3.00%
Rates Effective From 20/07/2022
All rates shown are on a per annum basis, calculated on daily balances with interest paid at maturity. For terms greater than 12 months interest must be paid at least annually.
Rates

Interest Rate Adjustments

A reduced rate of interest will be paid for early maturity and interest payment methods other than at maturity and yearly.

Interest paid Deduction from quoted interest rates
Up front
Only available for terms up to 12 months
0.05% p.a.
Fortnightly 
Only available if you are 55 years or over and retired or eligible for a pension or hold a seniors card.
0.05% p.a.
 Monthly or quarterly 0.05% p.a.
 Half yearly 0.05% p.a.

Early withdrawal rate / Early maturity

Should you decide to withdraw or transfer part or all of the account balance of your term deposit after the grace period has expired but before the maturity date, you can discuss this request with one of our specialists at your local branch or call us on 13 14 22. Any withdrawal outside the grace period or before maturity will be subject to conditions.

When you do withdraw part or all of your deposit before the end of the term, we will pay a reduced rate of interest on the withdrawn amount. This reduced rate is called the early withdrawal rate. The effect of the early withdrawal rate is to reduce your interest return, on the amount withdrawn, to the early withdrawal rate. 

The early withdrawal rate is currently 0.10% p.a.

For further information and examples of how the early withdrawal rate will affect your investment refer to the Guide to Heritage Deposit Products.

Research tools
Budget planner
Savings calculator
Term deposit calculator
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10 top budgeting tips
Ways to bank with Heritage
Interest rates for accounts
More interest rates

Our specialists are available to answer any of your questions, so you can choose the product that best suits your needs.

They can also help with internet banking, card management and lots more.  Tap here for live assistance.