Finty
Summerland

Summerland Fixed Term Deposit

16 termsFixed rate

A term deposit from Summerland, paying up to 5.25% a year, with 16 terms to choose from.

Written byDavid Boyd
Minimum deposit
$1,000
Maximum deposit
Not published
Terms offered
16

Rate a year, up to

For 1 year

Open account

Rates by term

TermInterest paidRate a year
3 monthsAt maturity3.50%
3 monthsMonthly3.35%
4 monthsAt maturity4.65%
4 monthsMonthly4.50%
5 monthsAt maturity4.70%
5 monthsMonthly4.55%
6 monthsAt maturity4.90%
6 monthsMonthly4.75%
7 monthsAt maturity5.00%
7 monthsMonthly4.85%
8 monthsAt maturity5.00%
8 monthsMonthly4.85%
9 monthsAt maturity5.10%
9 monthsMonthly4.95%
10 monthsAt maturity5.10%
10 monthsMonthly4.95%
11 monthsAt maturity5.10%
11 monthsMonthly4.95%
1 yearAt maturity5.25%
1 yearMonthly5.10%
13 monthsAt maturity5.00%
13 monthsMonthly4.85%
18 monthsAt maturity5.00%
18 monthsMonthly4.85%
2 yearsAt maturity4.70%
2 yearsMonthly4.55%
3 yearsAt maturity4.20%
3 yearsMonthly4.05%
4 yearsAt maturity3.60%
4 yearsMonthly3.45%
5 yearsAt maturity3.65%
5 yearsMonthly3.50%

Deposit amount on every term: $1,000 to $1,000,000.

How it compares

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

1 year rate

5.25%

A typical 1 year rate is 5.25%.

Minimum deposit

$1,000

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. 16 terms to choose from, so you can match the term to when you'll need the money.

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.