If we allow access to your term deposit funds before the term has matured then interest penalties apply. When the term matures, your funds are released with your additional interest payment upon request, or reinvested for a further term. When you choose a term deposit, you are committing your money to a kind of locked savings account for a nominated term.
Terms and eligibility can be viewed on our website, as well as a complete table of available term deposit rates. A minimum deposit of $5,000 applies and your interest earning are generally paid at term deposit maturity. Term deposits are considered a very low risk cash investment option and available terms from MyState Bank range from 1 month to 36 months. Choose the highest of our term deposit interest rates to maximise your investment earnings. Investing in a term deposit can boost your savings balance and help you reach your goals faster. Term deposits are a great way to make your money work harder for you. MyState Bank offers you a range of financial products including term deposit investment options with competitive term deposit rates.
