Three reasons to open a Term Deposit Account
Investment
Invest any amount from $1,000 for a fixed rate of return for the life of your investment.
Terms
Different investment terms to suit your needs start from one month.
Security
Protected by the Financial Claims Scheme guarantee on deposits provision.1
Make use of our special term deposit rates for an award winning account
Check out our rates for balances between $5,000 - $5,000,0000* and interest paid at maturity.
Our term deposit has eared awards on Finder for 2025.^
Interest rates
| Term | Rates for $5,000 - $5,000,000 | Interest paid |
| 4 month | 3.05% p.a. | At maturity |
| 7 month | 3.80% p.a. | At maturity |
| 9 month | 3.20% p.a. | At maturity |
| 12 month | 3.60% p.a. | At maturity |
For amounts less than $5,000 and other term deposit options see all term deposit rates.
Before you start
Identity
If you are a new customer, to sign up via the app you need to have one of the following forms of identification available:
- Australian Driver's licence
- Australian Passport
Eligibility
You need to be an Australian citizen or resident in order to apply for a term deposit.
Joint or business accounts?
Please visit a branch if you are a joint or a business account holder.
Open a Term Deposit Account via the app
Open our award winning Term Deposit Account in minutes.
I am a new customer
- Open an Everyday Account by downloading the Bendigo Bank app
- Select 'Add a new account' from within the app
- Follow the simple steps to open your Term Deposit Account
 |
  |
I am an existing customer
- Log in online or the Bendigo Bank app
- Select 'Add a new account'
- Follow the simple steps to open your Term Deposit Account
If you’d like more information you can go to your local branch or contact us on 1300 236 344.
FAQs
We've gathered the most frequently asked questions here, so you can better understand term deposit
Yes, you can open a Term Deposit in the Bendigo Bank App.
This functionality is only available to existing individual account holders.
Yes, interest from your Term Deposit can be credited to another Bendigo Bank account.
You can set this up via the Bendigo Bank App when you open the Term Deposit and select ‘Transfer my interest’.
You can access all of your funds and withdraw or transfer them.
You can make changes, or you may choose to reinvest your funds for another term. You will have 7 days after the review date to contact Bendigo Bank to make any changes.
No, you will not be able to immediately access your funds while it is invested into the chosen term.
You can access your funds upon request subject to notice periods and penalties set out in your terms and conditions.
You can only make additional deposits within the first 7 days of opening, or within 7 days following maturity (called the "Grace Period")
Everyday Account
$0 monthly fees for the Everyday Account. You can open our transaction account online and be free of monthly charges
Helpful tools
Discover our library of helpful tools to manage your savings, set goals, and achieve more.
Need help?
Online
Complete the online term deposit enquiry form to get contacted via your phone or email.
At a branch
Use our branch locator to search for a branch, agency or ATM near you.
Phone
If you have clicked on any suspicious links and entered your e-banking details:
You may also be interested in
Things you should know
All rates subject to change.
This information does not take your personal objectives, financial situations or needs into account. You should consider its appropriateness to your circumstances before acting on this information. Please read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.
Target Market Determinations for products are available.
PayID® is a registered trademark of NPP Australia Limited.
*Please contact your branch or call 1300 236 344 for investment amounts over $5,000,000. Rates valid from 22/08/2025 and subject to change, interest paid at maturity. Terms, conditions, fees and charges apply
For a personalised Money Market Investments service, please contact the team by phone 1300 133 833 or email. This personalised service is available for new funds over $500,000.
^Finder Awards for 2025.
- Most Loved (Winner)
- Most Trusted (Winner)
- Legendary Service (Winner)
- Value (Highly Commended)
- Recommended Brand (Highly Commended)
