MOVE Bank Term Deposits
Lock in a competitive interest rate with a MOVE Bank Term Deposit.
Rates effective as at 03 December 2024.
| Term | Minimum $5,000 and above | Interest Paid |
| 3 Months l3 | 4.85% p.a. | At Maturity |
| 4 Months l4 | 4.80% p.a. | At Maturity |
| 5 Months l5 | 4.80% p.a. | At Maturity |
| 6 Months l6 | 4.80% p.a. | At Maturity |
| 7 Months l7 | 4.95% p.a. | At Maturity |
| 8 Months l8 | 4.75% p.a. | At Maturity |
| 9 Months l9 | 4.75% p.a. | At Maturity |
| 10 Months l10 | 4.75% p.a. | At Maturity |
| 11 Months l11 | 4.80% p.a. | At Maturity |
| 12 Months l12 | 4.70% p.a. | At Maturity |
| 13 to 14 Months l13 | 4.65% p.a. | Annually 1 |
| 15 to 23 Months l30 | 4.30% p.a. | Annually 1 |
| 24 Months l30 | 4.30% p.a. | Annually 1 |
| 12 Months l40 * | 4.60% p.a. | Monthly |
| 13 to 14 Months l40 * | 4.55% p.a. | Monthly |
| 15 to 23 Months l50 * | 4.20% p.a. | Monthly |
| 24 Months l50 * | 4.20% p.a. | Monthly |
Lock in a competitive interest rate with a MOVE Bank Term Deposit. To open a term deposit, please
| Term Deposits | |
| Minimum Amount | $5,000 |
| Interest Income | At maturity, or yearly or monthly if term is more than 12 months |
Key attributes of the Term Deposit include:
- Fixed interest rate for the selected term
- Funds available at call however an interest deduction may apply
- Interest paid monthly, annually or at maturity
- Minimum deposit $5,000
- Maximum account balance $2 million
- Accounts can be held jointly
- Statements available online or by post
Product Fees include:
- No account opening or ongoing monthly fees
- Interest deduction may apply if funds are redeemed prior to the end of the term
- Other fees and charges may apply. For more information about our fees, please see the Fees & Charges page on our website.
Who is this product designed for?
This product has been designed to suit the needs and objectives of retail clients who have a lump sum of savings available that they are able to lock away for an agreed term in order to earn a high rate of interest. Key attributes of the Target Market are clients who:
- want the certainty of a fixed rate of return on their funds
- want to maximise the return on their funds and are happy to receive this income monthly, annually or at maturity
- do not need the ability to withdraw funds prior to the maturity of the deposit
Who is this product not designed for?
This product has not been designed for clients who:
- are looking to deposit funds in the name of a business
- want a variable rate that moves with market conditions
- need to retain at call access to the funds
Railways Credit Union was established in 1968 to help railway workers and their families build stable financial futures and achieve their goals. Since then we’ve been dedicated to providing our members with high quality, competitive financial products and exceptional service.
While we now trade as MOVE bank, our commitment to mutuality remains as strong as ever. MOVE Bank is 100% customer-owned, and is committed to putting the needs of members first in everything we do. Currently, MOVE Bank serves the financial needs of almost 22,000 members.
As an approved deposit-taking institution (ADI) MOVE Bank is covered by the Financial Claims Scheme. This means that deposits held with MOVE Bank are guaranteed by the Government up to $250,000 per depositor. More information about the FCS is available on our website here.
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Please click here to complete the enquiry form and a MOVE Bank representative will be in contact with you soon to discuss your needs. Alternatively, if you wish to speak to us, please call 1300 362 216 during business hours.
Statutory Statement
The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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