Get an even better rate for your savings
Our Term Deposit rates
For individual and joint applications.
Personal rates (Interest paid on maturity or annually)
| Term | Fixed rate |
|---|---|
| 31 day term | 3.85% p.a. |
| 3 month term | 4.75% p.a. |
| 6 month term | 5.20% p.a. |
| 9 month term | 5.15% p.a. |
| 12 month term | 5.15% p.a. |
| 24 month term | 4.70% p.a. |
Personal rates (Interest paid monthly)
| Term | Fixed rate |
|---|---|
| 12 month term | 5.00% p.a. |
| 24 month term | 4.55% p.a. |
^No set up fees. If you’re new to Challenger a minimum deposit amount of $25,000 applies, otherwise the minimum is $5,000. Interest is calculated daily, and depending on the term, can be paid monthly, yearly or at maturity. To view our rates, see our Interest Rates Schedule. Rates may change at any time. For rates on deposits greater than $1,000,000 call 1300 221 479.
Ready to apply?
If investing over $1,000,000 download and complete our Term Deposit application form or call us on 1300 221 479 to discuss your options.
For investments $1,000,000 or less you can simply apply online now.
For applications from companies, trusts, superannuation funds and SMSFs.
Non-personal rates (Interest paid at maturity)
| Term | Fixed rate |
|---|---|
| 31 day term | 3.85% p.a. |
| 3 month term | 4.75% p.a. |
| 6 month term | 5.15% p.a. |
| 9 month term | 5.10% p.a. |
| 12 month term | 5.10% p.a. |
| 24 month term | 4.65% p.a. |
Non-personal rates (Interest paid monthly)
| Term | Fixed rate |
|---|---|
| 12 month term | 4.95% p.a. |
| 24 month term | 4.50% p.a. |
No set up fees. Minimum deposit amount of $100,000. Interest is calculated daily, and depending on the term, can be paid monthly, yearly or at maturity. To view our rates, see our Interest Rates Schedule. Rates may change at any time. For rates on deposits of $1,000,000+ call 1300 221 479.
Ready to apply?
Download and complete our Term Deposit (non-personal) application form or call us on 1300 221 479 for assistance.
Flexible benefits and features
| No account keeping or establishment fees | |
| Lock in a rate for the investment term | |
| Terms ranging from 31 days | |
| Interest paid monthly (selected terms) | |
| Protected by Government guarantee* |
Lock in a great rate today
Personal customers can apply online in less than 5 minutes.
Non-personal customers can download and complete our Term Deposit (non-personal) application form.
Frequently asked questions
Online applications take less than 5 minutes. Provided we’ve been able to verify your identify online, account details will be emailed to you within 15 minutes.
A Term Deposit can be funded by transferring the investment amount into your Term Deposit account BSB and account number or via BPAY.
The BPAY biller code is 274795 and the customer reference number will be your Term Deposit account number.
Once you deposit funds into your Term Deposit equivalent to the amount applied for, your Term Deposit becomes fully funded.
You have seven calendar days from when your Term Deposit is opened to fully fund the Term Deposit.
The start date of your Term Deposit will be the date when we first receive funds into the account.
You’ll earn interest on your Term Deposit account based on your daily closing balance (excluding the maturity date or date of early withdrawal).
The interest earned each day is equal to the daily closing balance multiplied by the annual percentage rate applied to your Term Deposit when we opened it, divided by the number of days in the year (365 days, or 366 days if the Term Deposit is held during a leap year).
Where your Term Deposit starts in a non-leap year and matures in a leap year (or vice-versa), the daily interest earned is calculated based on 365 days for the portion of the Term Deposit held within the non-leap year, and 366 days for the portion of the Term Deposit held within the leap year.
To open an account, you need to:
- be 14 years or older
- have an Australian mobile number and a valid email address
- have an Australian residential address, and
- be solely an Australian resident for taxation purposes.
You can also apply for an account with us if you're a non-personal entity, such as a company, trust, or a SMSF.
Interest is calculated daily and paid:
- at maturity (for terms up to 12 months)
- monthly or at maturity (for 12 month terms), or
- monthly or yearly (for 24, 36, 48 and 60 month terms).