Finty

First Option Bank Regular Income 24mth

1 termFixed rate

A term deposit from First Option Bank, paying up to 4.85% 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 2 years

Open account

Rates by term

TermInterest paidRate a year
2 yearsMonthly4.85%

Deposit amount on every term: $25,000 to $9,999,999.

How it compares

Against the other 2 years term deposits we compare. Typical means the middle half of them.

2 years rate

4.85%

A typical 2 years rate is 4.50%.

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 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.