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Savings accounts and Term Deposits

Get more out of your money with low fees and competitive rates.


MySavings Account

Planning a tropical getaway or have your eye on a new car? Our 0.60% p.a. MySavings account can help you reach your savings goals faster, plus enjoy a range of flexible benefits along the way.

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Term Deposit

Get an even better rate for your savings. Lock in a competitive rate for a term that suits you. Rest easy knowing your money is earning a great return without the uncertainty of changes in rates or the impact of fees.


*All depositors are protected by the Government guarantee. For further details, please refer

This information is intended to be general only and has been prepared without taking into account your objectives, financial situation or needs. Because of that, you should consider its appropriateness, having regard to your objectives, financial situation and needs before acting on any such information. You should obtain and consider the relevant Target Market Determination (TMD), General Terms, Product Disclosure Statement (PDS), Fees and Charges Schedule and Interest Rate Schedule before making a decision about whether to acquire or continue to hold the relevant product.

Issued by Challenger Bank Limited (ABN 54 087 651 750, AFSL/Australian Credit Licence 245606) which is an authorised deposit-taking institution (ADI) regulated by the Australian Prudential Regulation Authority. Challenger Bank Limited is a part of the group of companies constituted by Challenger Limited and its subsidiaries (Challenger Group). No other entity in the Challenger group apart from Challenger Bank Limited is an ADI, and that entity's obligations does not represent deposits or other liabilities of Challenger Bank Limited. Challenger Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.