First Option Bank 12 Month Fixed Term
1 termFixed rate
Interest Paid at Maturity
5.50%
a year, up to, for 12–13 months
- Minimum deposit
- $1,000
- Maximum deposit
- $2,000,000
- Terms offered
- 1
Rates by term
| Term | Interest paid | Rate a year |
|---|---|---|
| 12–13 months | At maturity | 5.50% |
Deposit amount on every term: $1,000 to $2,000,000.
How it compares
Against the other 1 year term deposits we compare. Typical means the middle half of them.
1 year rate
5.50%
A typical 1 year rate is 5.25%.
Minimum deposit
$1,000
A typical minimum is $2,000.
Pros and cons
Pros
- A higher rate. 5.50% for 1 year, above the typical 5.25%, so your money earns more over the term.
Cons
- 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.
- Rate a year
- 5.50%
- Minimum deposit
- $500
- Rate a year
- 5.50%
- Minimum deposit
- $500
- Rate a year
- 5.50%
- Minimum deposit
- $1,000
