Finty
Central West Credit Union

Central West Credit Union 500+ (6m to <12m) I1

2 termsFixed rate

A fixed term deposit lets you earn a competitive interest rate on your money, over a set period of time.

Written byDavid Boyd
Minimum deposit
$500
Maximum deposit
$5,000
Terms offered
2

Rate a year, up to

For 180–364 days

Open account

Rates by term

TermInterest paidRate a year
180–364 daysAt maturity2.85%
6–12 monthsAt maturity2.85%

Deposit amount on every term: $500 to $5,000.

How it compares

Against the other 1 year term deposits we compare. Typical means the middle half of them.

1 year rate

2.85%

A typical 1 year rate is 5.25%.

Minimum deposit

$500

A typical minimum is $2,000.

Pros and cons

Pros

  • A low minimum. You can start with $500.

Cons

  • A lower rate. 2.85% for 1 year, below the typical 5.25%, so you'd likely earn more elsewhere.
  • Your money is locked in. Taking it out early usually needs 31 days' notice and earns less interest.

Similar term deposits

Term deposits from other banks that pay a similar rate for the same term.