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Term Deposits

Term Deposits opened online

Earn great returns with an IMB Term Deposit -
a secure way to grow your savings for the future.

4.75

% p.a

6 Month Term Deposit

Minimum $5,000, interest paid on maturity.1

Features

Term Deposits are a secure way to grow your savings for the future. Selected terms are now available to be opened online. When you open a Term Deposit online we will also open an Everyday Online Term Link Account, which is an Everyday Account with the added benefit of a transaction fee free period3.

Choice of 3, 6 and 12 months with interest paid at maturity1

Investment amounts of $5,000 - $2,000,0001,2

Everyday Online Term Link Account
for you to deposit funds4.

No transaction fees payable on your Everyday Online Term Link Account while you hold funds in a Term Deposit opened online3

Option to add a Visa Debit Card5, and use your Everyday Online Term Link Account as a regular transaction account

Find out more about the standard features of an Everyday Account.

Things you should know:

Opening a Term Deposit online will also open an Everyday Online Term Link Account for you to deposit funds, if you don't already have one.

Not all product options are available online. Other interest rates, investment terms, minimum deposit amounts, interest payment frequencies, and interest payment options are available. Find out more about these options.

For deposits ≥ $100,000 an interest rate for a Negotiable Interest Term Account available in branch or over the phone may be negotiated and this rate may be higher than the rate available for a Term Deposit opened online.

If you need to access your funds prior to maturity you can. Any withdrawals (including partial amounts) will incur an interest rate deduction

If you do not give us instructions at maturity, your funds will be reinvested and standard interest rates available in branch / over the phone at the time apply to reinvestment of Term Deposits opened online, not special interest rates (which may be higher).

Rates and fees for Term Deposits opened online

Interest is paid at maturity and the minimum investment is $5,0001.

Term (months)

Interest Rate

3 Month Special

2

4.20

% p.a.

Open now

6 Month Special

2

4.75

% p.a.

Open now

12 Month Special

2

4.70

% p.a.

Open now

Opening a Term Deposit online is easy

Understand the product

Read the product information, terms and conditions, and fee information.

Apply online in under 10 minutes

Give yourself approximately 10 minutes to go through the application.

Have your ID ready

Have your ID handy so we can verify your identity electronically (open to Australian residents, 13 years and over).

Ready to open a Term Deposit?

Get started online in under 10 minutes.

Need support?

Contact us

Get in touch with one of our Australia-based team.

Locate us

Our friendly branch staff are looking forward to helping you achieve your financial goals.

Got a question about term deposits?

What is a Term Deposit?

How can I provide instructions for the maturity of my term deposit?

I want to invest more than $100,000, how can I discuss a Negotiable Interest Term Account (NITA)?

How long do I have to provide instructions for the maturity of my term deposit?

How can I open a term deposit?

why us

IMB Bank is one of the most enduring financial institutions in the country, helping people achieve their financial goals for over 140 years.

Find out more

Your security, our priority

Security is a fundamental right for our customers, and we hold it as one of our core values.

Important Information

General
Information current at date of appearance and subject to change. You should consider the PDS before making a decision about IMB products and facilities. Target Market Determination available here.

Prepayment

Prepayment of your investment amount (i.e. withdrawal in part or full prior to maturity) will be allowed by us. However, any amounts withdrawn before maturity will incur the following interest rate reduction:

- if the interest rate on your Account is higher than 3% p.a., the interest rate reduction is 3% p.a. for 12 months or the full term of the investment if that is 12 months or less;

- if the interest rate on your Account is 3% p.a. or less, the interest rate is reduced to 0.10% p.a. for 12 months or the full term of the investment if that is 12 months or less.

Reinvestment

At maturity, interest rates, investment terms, minimum deposit amounts, interest payment frequencies and interest payment options available in branch or over the phone are available for reinvestment of Term Deposits opened online. If you do not give us instructions at maturity, your investment will be reinvested for the same term (or the closest available term) at the applicable standard interest rate for that term available in branch / over the phone at the time, not a special interest rate (which may be higher).

Rates and features

1. 6 month term is treated as 183 days for the purposes of term length and interest calculations. Other interest rates, investment terms, minimum deposit amounts, interest payment frequencies, and interest payment options are available in branch or over the phone on 133 462.

2. For deposits ≥$100,000 an interest rate for a Negotiable Interest Term Account available in branch or over the phone may be negotiated and this rate may be higher than the rate available for a Term Deposit opened online.

3. For the period that an amount is held in a Term Deposit opened online (including as a Reinvested Online Term Deposit), transaction fees and the monthly fee for a Visa Debit Card (if requested) are not payable in relation to an Everyday Online Term Link Account. Otherwise, these fees are payable. We’ll give you 30 days notices before these fees apply. To understand more – refer to the PDS.

4. The full investment amount must be deposited into an Everyday Online Term Link Account within 7 days of opening a Term Deposit online (if it’s not already there). We then transfer this amount to the Term Deposit by the end of the next business day. Withdrawals from a Term Deposit opened online may be transferred to an Everyday Online Term Link Account or another type of IMB transaction or savings account. We process transfers to and from a Term Deposit opened online based on your instructions – you are not able to conduct these types of transactions directly using Internet Banking.

5. Visa Debit Card available to members aged 15 years and over. $1.60 monthly fee applies if an amount is not held in a Term Deposit opened online as described in 3. above.