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 * About Us
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 * LoginInternet Banking

 * Banking
   Mobile Banking
   
   Fast, secure and easy way to pay.
   
   Learn more
   
   
   BANKING
   
    * Transaction Accounts
      
      Take advantage of the many ways to bank with us and make managing your
      money the simplest part of your day.
   
    * Savings Accounts
      
      Boost your savings with flexible accounts and competitive rates.
   
    * Term Deposits
      
      Lock in a great rate and grow your savings with peace of mind.
   
    * Credit Cards
      
      Low fee and low rate credit cards with 24/7 worldwide access to your
      money.
   
    * Travel and Foreign Exchange
      
      Secure and easy options to transfer or spend money overseas.
   
    * School Accounts
      
      We're committed to education, and can help manage your school's finances.
   
    * Preschool Accounts
      
      Manage your preschool's finances with a range of accounts and term
      deposits.
   
    * Interest Rates
      
      View our current banking interest rates.

 * Loans
   Comprehensive Credit Reporting
   
   It’s important that you’re aware of how Comprehensive Credit Reporting
   impacts your credit report.
   
   Learn more
   
   
   LOANS
   
    * Home Loans
      
      Feature-packed loans to suit every homebuyer.
   
    * Car and Personal Loans
      
      Flexible personal loans to suit your needs.
   
    * Credit Cards
      
      Low fee and low rate credit cards with 24/7 worldwide access to your
      money.
   
    * Calculators
      
      Easy to use calculators including loan repayment and borrowing power
      calculators
   
    * Interest Rates
      
      View our current loan interest rates.

 * Insurance
   Helping you find the right cover
   
   Our focus is protecting you with market-leading Insurance
   
   More info
   
   
   INSURANCE
   
    * Car
      
      Drive in confidence with a range of Insurance levels.
   
    * Home and Contents
      
      Protect your home and your belongings.
   
    * Travel
      
      Find the right cover for your holiday.
   
    * Landlord
      
      Helping you find the right cover for your investment.
   
    * Health
      
      Find the right Health Insurance for you.
   
    * Life
      
      Protecting your family's future.
   
    * Other Vehicle
      
      Insurance for motorcycles, boats and caravans.

 * Financial Planning



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   impacts your credit report.
   
   Learn more
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BSB 704-191


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POPULAR TOPICS

 * Loans
 * Home Loans
 * Home and Contents
 * Credit Cards
 * Get started with Internet Banking

 * 1300 654 822
 * BSB 704-191




TERM DEPOSIT ACCOUNTS

Invest your money for a fixed term and be confident in knowing that your money
is locked away with a competitive fixed interest rate.

 * Home
 * Banking
 * Term Deposits

Make your money work harder

We offer a range of terms to suit your needs, anything from 90 days to 5 years.

4.55%p.a
90 days Term Deposit

4.75%p.a
180 days Term Deposit
 * Promotional Rate⁶
 * Minimum deposit $500

Request a callbackApply now


THE DETAILS

 * FIXED RETURN ON YOUR INVESTMENTS
   
   You have the security of locking in a fixed rate of return.

 * FLEXIBLE TERMS
   
   You can choose from a range of terms to suit your needs. Anything from 90
   days to 5 years.

 * DEPOSIT PROTECTION
   
   Deposits are protected by the Australian Government’s Financial Claims Scheme
   (FCS), which guarantees up to $250,000 per account.

 * KEEP TRACK OF YOUR INVESTMENT
   
   View, track and manage your Term Deposit alongside your other accounts via
   Internet Banking.

 * NO UPFRONT FEES
   
   No monthly account or application fees.


INTEREST RATES

 * Under 1 Year
   
   TERM DEPOSITS
   
   Interest calculated daily2,5
   
    
   
   $500 and over
   
   30 days (I18) – product no longer available for new accounts
   
   0.75%
   
   60 days (I17) – product no longer available for new accounts
   
   1.00%
   
   90 days (I16)
   
   4.55%
   
   120 days (I7)
   
   4.55%
   
   180 days (I15)
   
   4.75%
   
   270 days (I1)
   
   4.75%
   
   INTEREST FIRST TERM DEPOSIT
   
   Interest calculated daily2,5
   
    
   
   $500 and over
   
   150 days (I55) – product no longer available for new accounts
   
   2.95%
   
    

 * 1 Year and Over
   
   TERM DEPOSITS
   
   Interest calculated daily2,5
   
    
   
   $500 and over
   
   1 year (I12)
   
   4.75%
   
   2 years (I24)
   
   4.00%
   
   3 years (I36)
   
   4.00%
   
   4 years (I48)
   
   4.00%
   
   5 years (I60)
   
   4.00%
   
   REGULAR INCOME TERM DEPOSIT
   
   Interest calculated daily2,5
   
    
   
   $5,000 and over
   
   1 year (I3)
   
   4.65%
   
    


HOW TO APPLY

Ready to apply or need help choosing the right Term Deposit for you? We’re here
to talk with you about your unique circumstances and recommend the best account
for your needs.


APPLY ONLINE

It's quick and easy to get started online.

Apply now


EXISTING CUSTOMER?

Existing customers can apply, view and manage their Term Deposits within
Internet Banking.

Apply now


CALL US

We're here to help. Speak to a specialist today.

1300 654 822


FREQUENTLY ASKED QUESTIONS

Term Deposits are an efficient way to grow your savings. They allow you to
invest your money for a fixed term at a competitive rate of return so you know
exactly what interest you will earn on your investment.

 * What is a Term Deposit?
   
   Term Deposits are a cash investment that are invested for a fixed amount of
   time. When you apply, you decide how long you want the money invested,
   anywhere from 90 days to 5 years. The interest rate you earn depends on the
   length of the fixed term you choose.

 * How do I open a Term Deposit via Internet Banking?
   
    1.  Login to Internet Banking
   
    2.  Select Accounts
   
    3.  Select Open Term Deposit
   
    4.  If you wish to open a joint Term Deposit, select 'Add a new Applicant'
        and they’ll be required to log into their Internet Banking, or to open a
        Term Deposit as an individual. Click next
   
    5.  Read and accept the General Terms and Conditions
   
    6.  Select the deposit amount
        
        1. $500.00 - $19,999.00
        
        2. $20,000.00 - $49,999.00
        
        3. $50,000.00 - $99,999.00
        
        4. $100,000.00 - $9,999,999.00
   
    7.  Select your term, 90 days to 5 years
   
    8.  Select the highlighted interest rate 
   
    9.  Select the account to Transfer funds from an internal account
   
    10. Enter your amount
   
    11. Choose what you would like to do at the end of the term:
   
    12. Choose what you would like to do with your interest:
        
        1. Rollover term deposit
        
        2. Transfer funds
   
    13. Once you ensure all your details are correct, select confirm and the
        Term Deposit will be opened
   
    

 * How will my interest be calculated?
   
   Interest is calculated daily. The daily percentage rate is the Annual
   Percentage Rate divided by 365.

 * What happens to my Term Deposit at maturity?
   
   If you haven’t provided us specific instructions for when your term deposit
   matures, it will automatically be rolled over for the same term at the
   interest rate applicable on the date of maturity. 

 * What if I need to access to my funds before my Term Deposit matures?
   
    1. A reduction in the interest paid will apply to the amount withdrawn. When
       the Term Deposit is invested for a term of up to two years we will
       require 31 days advance written notice. When the Term Deposit is invested
       for a term of more than two years the following will apply:
       
       * Where the investment period at the time of withdrawal has been 2 years
         or less we will require 31 days advance written notice; or
       
       * Where the investment period at the time of withdrawal has been more
         than 2 years we will require 7 days advance written notice.
   
    2. For early withdrawals of a part or full amount of a Term Deposit the
       interest accrued or paid to that date will reduce as follows:
   
   Percentage of Term Remaining
   
   Interest Rate Reduction
   
   0-19.99%
   
   20%
   
   20-39.99%
   
   40%
   
   40-59.99%
   
   60%
   
   60-79.99%
   
   80%
   
   80-100%
   
   90%
   
   We may recover the interest deduction by charging this to the balance of your
   Term Deposit or any other deposit account you hold with us.
   
   For assistance, please contact us and one of our friendly Member Service
   Consultants can calculate the interest adjustment with you.

 * How do I provide specific instructions for when my Term Deposit matures?
   
    1. Login to Internet Banking
   
    2. Select Accounts
   
    3. Select Term Deposit Maturity Instructions
   
    4.  Enter your Member Number and Term Deposit Number
   
    5. Select what you would like to do with the funds and provide details (as
       required)
   
    

 * Can I deposit more money into my Term Deposit?
   
   Additional deposits can be made to an existing Term Deposit within five
   business days before or after maturity. Deposits received at any other time
   will be accepted as a separate deposit under the Terms and Conditions
   prevailing at the time.
   
   Please contact us if you would like to invest additional funds.

Important Information

Interest Rates effective 30 November 2023.

Interest is calculated daily. Interest rates are per annum, current at the time
of printing and are subject to change without notice.

2. Subject to our Terms and Conditions, a Term Deposit interest rate reduction
applies on early withdrawals, with interest paid at the reduced rate from the
date of deposit to the day prior to withdrawal. Where the withdrawal reduces the
'Fixed Term Deposit' balance to an amount that attracts a lesser rate, that
lesser rate shall apply for the remainder of the term. Part withdrawals are not
permitted on the Interest First Term Deposit product.

5. These rates are for retail customers only and limits may apply.

6. Promotional rate for a limited time only. Interest paid at maturity.

 * 1300 654 822
 * BSB 704-191

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 * 1300 654 822
 * BSB 704-191

 * © Copyright Victoria Teachers Limited
 * ABN 44 087 651 769
 * AFSL/Australian Credit Licence Number 240 960

The information provided on this website does not take into account your
objectives, financial situation or needs. Therefore, you should firstly consider
the appropriateness of this information and refer to the Terms and Conditions or
the relevant Product Disclosure Statement (PDS) before acquiring a product.
These documents are available at our branches or by contacting us on 1300 654
822.