- Term
- 12 months
- Deposit
- $5,000 – $5,000,000
- Interest paid
- Annually
- Monthly fee
- $0
Pros
- Among the most competitive 1-year term deposit rates
- 5.4% p.a. fixed for the full 1-year term
- Government guaranteed up to $250,000
- Interest paid annually
Cons
- Your money is locked away for the 1-year term
- Requires at least $5,000
- Breaking early usually needs notice and reduces your interest
- Fixed rate, you won't benefit if rates rise during the term