How to open a term deposit online
Before you can open a Standard Term Deposit online, you'll need to open a fee-free Access Account (or any of our other everyday or savings accounts) to transfer your money into. This can be done completely online, and only takes a few minutes.
Why choose BCU Bank?
As a customer-owned, customer first bank, we sit right alongside you, helping to navigate life’s financial journey.
We believe that every Australian should feel confident when it comes to their money, and we’ve helped our members achieve their financial goals for more than 50 years.
We understand that the more you know, the less overwhelming banking can feel – with BCU by your side, we make the complicated easy, and your dreams a reality. With local financial partners, competitive products, financial wellbeing content, and digital tools, our customers feel confident knowing BCU is by their side.
Discover the customer-owned differenceReady to open a term deposit?
Existing customers
If you already bank with us, you're halfway there! You can open a Standard Term Deposit for yourself online quickly and easily. Simply log in to internet banking or the BCU Bank app and go to ‘Apply’ or ‘Open account’. To open a Regular Income Term Deposit or a term deposit for over 55s, you can call or message us and one of our friendly team will be happy to assist.
Alternatively, you can pop into your local branch and one of the team will be happy to help!
New customers
Once you join BCU Bank, you’ll be able to open a term deposit online. First, you’ll need to set up a transaction or savings account to receive your funds, which is quick and easy. You’ll need to be an Australian resident and at least 18 years of age.
Once your funds have landed in your account, you can open a term deposit using internet banking or the BCU Bank mobile app.
Open your term deposit in person at a branch
We’d love to see you in person. Visit your nearest BCU Bank branch to open a term deposit.
New customers
To open your account online you will need to be:
- over 18 years of age.
- an individual (not a business or association).
- an Australian resident with a current Australian residential address.
And you’ll need to provide two of the following:
- a valid Australian driver licence
- an Australian passport
- a Medicare card (green)
Handy hint: Have your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO, you’ll need to pay tax. To avoid this, provide your tax file number when applying.
Open your account in person at a branch
If you don’t already bank with us, you’ll need to bring your Australian driver licence or a valid Australian passport for ID.
Alternative identification documents are available for anyone who:
- is under 18 years of age.
- is a non-resident.
- doesn't have an Australian photo identity document.
Existing customers
If you already bank with us, you're halfway there! You can open a Standard Term Deposit for yourself online quickly and easily. Simply log in to internet banking or the BCU Bank app and go to ‘Apply’ or ‘Open account’. To open a Regular Income Term Deposit or a term deposit for over 55s, you can call or message us and one of our friendly team will be happy to assist.
Alternatively, you can pop into your local branch and one of the team will be happy to help!
New customers
Once you join BCU Bank, you’ll be able to open a term deposit online. First, you’ll need to set up a transaction or savings account to receive your funds, which is quick and easy. You’ll need to be an Australian resident and at least 18 years of age.
Once your funds have landed in your account, you can open a term deposit using internet banking or the BCU Bank mobile app.
Open your term deposit in person at a branch
We’d love to see you in person. Visit your nearest BCU Bank branch to open a term deposit.
New customers
To open your account online you will need to be:
- over 18 years of age.
- an individual (not a business or association).
- an Australian resident with a current Australian residential address.
And you’ll need to provide two of the following:
- a valid Australian driver licence
- an Australian passport
- a Medicare card (green)
Handy hint: Have your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO, you’ll need to pay tax. To avoid this, provide your tax file number when applying.
Open your account in person at a branch
If you don’t already bank with us, you’ll need to bring your Australian driver licence or a valid Australian passport for ID.
Alternative identification documents are available for anyone who:
- is under 18 years of age.
- is a non-resident.
- doesn't have an Australian photo identity document.
Because we're here to help
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms & conditions, fees & charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
- View terms and conditions
- View Target Market Determination (TMD)
- View Financial Services Guide (FSG)
We calculate interest daily by multiplying the balance of your deposit by the fixed interest rate. Interest can be added to the principal amount, or you can request for it to be credited to your nominated bank account.
Please note that interest rates for amounts of $1,000,000 and over are by negotiation.