Finty

Great Southern Bank Platinum Plus Term Deposit 13-60 Months (M)

15 termsFixed rate

Term Deposit (for customers aged 55 or over) between 13-60 months with interest paid monthly.

Written byDavid Boyd
Minimum deposit
$5,000
Maximum deposit
Not published
Terms offered
15

Rate a year, up to

For 5 years

Open account

Rates by term

TermInterest paidRate a year
12–13 monthsMonthly2.30%
13–14 monthsMonthly2.30%
14–15 monthsMonthly2.30%
15–16 monthsMonthly2.30%
16–17 monthsMonthly2.30%
17–18 monthsMonthly3.20%
18–19 monthsMonthly2.30%
19–20 monthsMonthly2.30%
20–21 monthsMonthly2.30%
21–22 monthsMonthly2.30%
22–23 monthsMonthly2.30%
23–24 monthsMonthly4.25%
3 yearsMonthly5.00%
4 yearsMonthly5.00%
5 yearsMonthly5.35%

Deposit amount on every term: From $5,000.

How it compares

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

1 year rate

2.30%

A typical 1 year rate is 5.25%.

Minimum deposit

$5,000

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.
  • Plenty of terms. 15 terms to choose from, so you can match the term to when you'll need the money.

Cons

  • A lower rate. 2.30% 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.