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First Option Bank 6 Month Regular Income Term Deposit

1 termFixed rate

A term deposit from First Option Bank, paying up to 0.05% a year, with 1 term to choose from.

Written byDavid Boyd
Minimum deposit
$25,000
Maximum deposit
$2,000,000
Terms offered
1

Rate a year, up to

For 6 months

Open account

Rates by term

TermAmountInterest paidRate a year
6 monthsFrom $25,000Monthly0.05%
6 months$25,000 to $250,000Monthly0.05%
6 months$250,000 to $500,000Monthly0.05%

How it compares

Against the other 6 months term deposits we compare. Typical means the middle half of them.

6 months rate

0.05%

A typical 6 months rate is 5.10%.

Minimum deposit

$25,000

A typical minimum is $2,000.

Pros and cons

Pros

  • Monthly interest. You can have interest paid each month, which suits living off the interest.

Cons

  • A lower rate. 0.05% for 6 months, below the typical 5.10%, so you'd likely earn more elsewhere.
  • A higher minimum. You need at least $25,000, more than the typical $2,000.
  • 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.