Regular Income Term Deposit
Up to
5 months, interest paid monthly
Why choose a Regular Income Term Deposit?
Flexible terms
Pick a term that suits you – from as little as three months, up to three years.
Regular interest payments
Have your interest paid more regularly than you would with a standard term deposit.
Peace of mind
Total deposits up to $250k are protected by the Financial Claims Scheme.
Guaranteed returns
Know exactly how much interest you’ll earn with a fixed interest rate.
The features don't stop there
- No monthly fees.
- Minimum deposit of $1,000.
- Competitive interest rates to help you grow your savings.
- Enjoy guaranteed returns with fixed interest rates, meaning you can calculate your earnings before your term even starts.
- Have your interest paid monthly, quarterly, or six-monthly – it's your choice!
Looking for a better rate or more flexibility? Take a look at our savings accounts.
How much could you save?
Want to see how your money could grow? Discover your savings potential with our term deposit goal calculator.
Interest rates
| Term | Interest paid | Interest rate |
|---|---|---|
| 3 months | Monthly | 4.15% p.a. |
| 4 months | Monthly | 4.05% p.a. |
| 5 months |
Monthly
|
4.45% p.a. |
| 6 months | Monthly | 3.90% p.a. |
| 7 months | Monthly | 4.20% p.a. |
| 8 months | Monthly | 3.90% p.a. |
| 9 months | Monthly | 3.80% p.a. |
| 10 months | Monthly | 3.45% p.a. |
| 11 months | Monthly | 3.45% p.a. |
| 12 months | Monthly | 3.10% p.a. |
| 24 months | Monthly | 3.35% p.a. |
| 36 months | Monthly | 3.25% p.a. |
| 12 months | Quarterly | 3.02% p.a. |
| 24 months | Quarterly | 3.37% p.a. |
| 36 months | Quarterly | 3.27% p.a. |
| 12 months | Six-monthly | 3.15% p.a. |
| 24 months | Six-monthly | 3.40% p.a. |
| 36 months | Six-monthly | 3.30% p.a. |
How to open a term deposit
To open an account online, you'll need to be:
New customer
Before you can open a term deposit, you’ll need to open a transaction or savings account to receive your funds – but it’s quick, easy, and you can do it online.
Existing customer
A Regular Income Term Deposit cannot be opened online. Please call or message us and one of our friendly team will be happy to help you open a term deposit.
Am I eligible to open an account?
To open an account online, you’ll need to:
- be at least 18 years old
- live in Australia with a current residential address
- be applying as an individual (not a business or association)
What do I need to open an account online?
All you need is a NSW or QLD driver licence or valid passport to verify your identity.
We also recommend having your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO and you haven’t provided us with your TFN, withholding tax may be deducted from the interest you earn.
Already bank with us?
You can open a new Standard Term Deposit through internet banking or the BCU Bank app – no additional ID required.
If you’d like to open a Regular Income Term Deposit or a term deposit for over 55s, please get in touch with us.
Prefer to visit a branch?
Drop into one of our branches to open your account in person. If you don’t already bank with us, you’ll need your Australian driver licence or passport.
Don't have photo ID, are under 18, or not an Australian resident? We also accept alternative forms of identification.
Got a question about term deposits?
A term deposit offers you a fixed rate of interest for a set period of time (the term) – a sure-fire way to watch your savings grow, as you can't touch it. You usually can't add further money to the account during the term and by locking your money away you'll know exactly how much you'll have at the end of your term.
Savings accounts offer you the freedom to add to your savings when it suits you and access your money when you need it. Interest rates on savings accounts are variable and can change at any time and some accounts will pay bonus interest too.
You can close your term deposit account early at any time, but doing so will likely affect the amount of interest you receive.
Further information is available in our Term Deposit Account Terms & Conditions.
At the time of opening your term deposit account, you set instructions for what you want us to do with your deposit and interest when it matures.
When your term deposit is due to mature you can explore your options to:
- add some funds to your term deposit,
- transfer funds to another nominated account,
- renew your term deposit for a new term,
- change your interest payment instructions, or
- a combination of these options.
You can also choose to leave your money – and the interest you've earned – in the same term deposit (it’s what we call a rollover).
Your instructions can be provided any time up to your term deposit maturity date, or within the seven-day grace period following the account maturity.
View the Term Deposit Account Terms & Conditions for more information about rollovers.
Because we're here to help
Talk to the team
Got a question? Call us on 1300 228 228, pop into your local branch, or chat to us online.
Find your local branch
You’ll find us from Maroochydore to Port Macquarie – drop in and say hi!
Get answers online
Check out our how-to guides, search our FAQs, and find support services.
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 and conditions, fees and 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.