Fixed term deposits offer your business a secure, guaranteed rate of return on funds for the life of an investment. For your convenience, you can choose the term or interest rate that best suits your business needs.
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responsible investment
bankmecu is committed to investing its customers funds for economic performance in both socially and environmentally responsible ways. bankmecu is a signatory to the UN Environment Program Statement by Financial Institutions on the Environment, UN Global Compact and UN Principles for Responsible Investment. Furthermore our approach to sustainable development and enhancing customer value is guided by a covenant with the Victorian State Government.
Learn more about bankmecu's commitments here.
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flexible investment terms
You can select from a range of investment terms starting from 3 months up to 24 months, and investment amounts from a minimum of $500 to an unlimited maximum to suit your needs.
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fixed interest rates
This means you are guaranteed a rate of return over the term of the investment.
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the process
Once your application for a Fixed Term Deposit has been approved by bankmecu, the following will occur:
- the fixed term deposit will be established within your account and a Certificate of Deposit will be issued and sent to you
- two weeks prior to maturity date, a letter will be sent to you to notify you of your term deposit maturity. You will be requested to provide instructions for re-investment or redemption of the term deposit
- we will act upon your instructions. If we do not receive any instructions from you, the term deposit will be automatically re-invested at maturity, for the same term and conditions as previously invested, at the prevailing interest rate
special term deposit offer
interest paid at maturity or annually
| | $500 to $4,999 | $5,000 to $24,999 | $25,000 to $49,999 | $50,000 to $99,999 | $100,000 & over |
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| 3 months |
2.60% |
4.20% |
4.20% |
4.20% |
4.20% |
| 4 months |
2.60% |
4.10% |
4.10% |
4.20% |
4.20% |
| 5 months |
2.60% |
4.10% |
4.10% |
4.20% |
4.20% |
| 6 months |
3.10% |
4.10% |
4.10% |
4.20% |
4.20% |
| 7 months |
3.10% |
4.10% |
4.10% |
4.20% |
4.20% |
| 8 months |
3.10% |
4.10% |
4.10% |
4.20% |
4.20% |
| 9 months |
3.35% |
4.10% |
4.10% |
4.20% |
4.20% |
| 10 months |
3.35% |
4.10% |
4.10% |
4.20% |
4.20% |
| 11 months |
3.35% |
4.10% |
4.10% |
4.20% |
4.20% |
| 12 - 18 months |
3.40% |
4.10% |
4.10% |
4.20% |
4.20% |
| 19 - 24 months |
3.65% |
4.25% |
4.25% |
4.45% |
4.45% |
| 36 months |
3.85% |
4.40% |
4.40% |
4.50% |
4.50% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
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interest paid on a six-monthly basis
| term | $25,000 to $49,999 | $50,000 to $99,999 | $100,000 & over |
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| 12 months |
4.05% |
4.15% |
4.15% |
| 18 or 24 months |
4.20% |
4.40% |
4.40% |
| 36 months |
4.35% |
4.45% |
4.45% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
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interest paid on a monthly basis
| term | $25,000 to $49,999 | $50,000 to $99,999 | $100,000 & over |
|---|
| 12 - 18 months |
4.00% |
4.10% |
4.10% |
| 19 - 24 months |
4.15% |
4.35% |
4.35% |
| 36 months |
4.30% |
4.40% |
4.40% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
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interest paid on a fortnightly basis
| term | $25,000 to $49,999 | $50,000 to $99,999 | $100,000 & over |
|---|
| 12 - 18 months |
3.95% |
4.05% |
4.05% |
| 19 - 24 months |
4.10% |
4.30% |
4.30% |
| 36 months |
4.25% |
4.35% |
4.35% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
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edvest regular income term deposits with fortnightly interest**
| term | $25,000 to $1,000,000 |
|---|
| 12 to 24 months |
4.25% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
**Only for customers aged 45 years and above and an $18 annual fee applies.
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edvest deferred interest term deposits**
| term | $1,000 to $4,999 | $5,000 & over |
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| 6 to 12 months |
3.40% |
4.20% |
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Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits.
**Only for customers aged 45 years and above and an $18 annual fee applies.
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Early Withdrawal Policy
For Term Deposits where interest is paid annually or at maturity, an agreement is entered into whereby bankmecu agrees to pay a specified interest rate on the amount invested. Interest paid on principal amounts withdrawn early will equate to the percentage of the current term over the original agreed term. e.g. If the term deposit is held for 80% of the original term, 80% of the accrued interest will be paid upon early redemption. Any funds not redeemed will remain in the account until final expiry of the agreed term and will attract the full rate of interest as originally specified. Minimum retained balance is $500.
For Term Deposits where interest is paid fortnightly, monthly or six monthly, early redemption is subject to a 30 day notice and interest penalty period calculated on the amount redeemed.