Great Southern Bank — Term Deposit (Platinum Plus 55+) - 60 months
- Term
- 60 months
- Deposit
- $5,000 – $9,999,999
- Interest paid
- Annually
- Monthly fee
- $0
Pros
- Among the most competitive 5-year term deposit rates
- 5.6% p.a. fixed for the full 5-year term
- Government guaranteed up to $250,000
- Interest paid annually
Cons
- Your money is locked away for the 5-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