Bendigo Bank Term Deposit Rates | Guide 2024

Bendigo Bank Term Deposit Rates | Guide 2024

Bendigo Bank Term Deposit rates have popped up as the most transparent and trusted avenue to save, utilize, and empower your funds with the ever-changing financial circle. All the banks working with loan and interest policy, use the strategy of “wait and see”, Bendigo bank terms rates, on the contrary, are decided with regular payment intervals.

With Bendigo Bank deposit, you come to know the period in which you can invest your money and how much monetary fund you will get in return. Get ready to calculate your savings by using the online term deposit calculator.

By way of illustration, Bendigo Bank has currently come into view with a 5-basis point discount which the customers are supposed to pay on various products with the minimum term rates at the end of the term. As soon as the customers keep on engaging further customers, their interest rate will be lowered gradually. The terms’ lengths at variant levels are accessible. Also read: Bendigo Bank Home Loan Rates

  • Interest in maturity.
  • Interest annually.
  • Interest semi-annually.
  • Interest quarterly.
  • Interest monthly.

Deposit Sizes

The term deposit products given away by Bendigo Bank depend upon your deposit size. You can start submitting your amount ranging from at least $5,000 to up to $5,000,000, as term deposits. It leaves the customers with full ease and peace of mind in the form of interest rates. If you are interested in fixing the amount of more than $5,000,000, you need to visit the Bendigo branch to get all the details about it.

Key features

1.  Interest Terms over 1 month to 5 years

It’s up to your choice how much money within the specified time you need to keep your funds locked. The term duration you may opt for ranges from 1 month to 5 years which suits your funds the most.

2.  Fixed interest rate

Choosing a fixed interest rate policy means the rate will remain unchanged until the term ends. So, it is easier for the consumers to plan their regain investment policy.

3.  Online banking Access

Bendigo Bank deposit provides its customers full ease and peace of mind while depositing their funds. At the same time, they can access all banking services online, such as managing accounts, scrutinizing interest earnings, or viewing the funds’ transactions whenever and wherever they want.

4.  Investment Ranges $5000 and $5 million

The maximum balance you are allowed to deposit for the investment in this term deposit is up to $5 million. But you can start your deposit functioning at a minimal balance of at least $5000.

If your balance is less than $5 million, you can also initiate a deposit for the term as Bendigo Bank assists you with the monetary funding of $0 and $4,999.

5.  Interest Payments Premium

Investment with Bendigo Bank is quite easier as its policies don’t spring up with hard and fast rules. Bendigo Bank Terms rates are variable you need to click as per your feasibility such as monthly, quarterly, semi-yearly, yearly, or at the full maturity payment.

6.  Free of charge Accounts

Bendigo Bank doesn’t demand any monthly account-keeping charges. So it casts no burden on the wallet or time.

7.  Bonus Interest Opportunities

Bendigo Bank Login deposit grant a bonus interest rate on specific conditions when you meet the target including paying regular deposits and maintaining the balance at minimum rates.

8.  Deposit Insurance scheme.

When your deposit exceeds $250,000, it is automatically safeguarded under the bank guarantee scheme launched by the Australian Government.

Bendigo Term Deposit Methods:

Bendigo Bank Term Deposit have two methods:

  • Deposit in Baranch
  • Deposit Online

Let’s discuss these methods briefly.

Apply in-Branch.

Being a new customer of Bendigo Bank Deposit, you need to visit your nearby Bendigo branch. After collecting the relative information, apply for the deposit instantly as guided:

  • The first important merit is to be an Australian resident or have Australian citizenship.
  • The consumer’s age should be more than 18.
  • Investment must be at least $5,000
  • You must have your 2 forms of identification card having a residential address with you.
  • Place your email address and phone number.
  • Also, bring a passport and driver’s license if you have one.
  • Submission of Medicare card.

Apply Online Deposit

Before applying for an online deposit, or e-banking App, it is indispensable to be an existing customer of Bendigo Bank.

  • Place the Bendigo Bank address in the long bar and search for the App.
  • Install your Bendigo app on your Android phone or desktop.
  • Drag it to the Desktop icon.
  • Open and log in to e-banking.
  • Tap on the “Add a New Account”
  • After opening the file, keep on following the steps to your new term deposit.
  • It is a conforming online inquiry form.

Penalties for early withdrawal

In case Bendigo customers exit the term deposit policy before the completion of the term, they are penalized for getting retired in the middle of the term deposit. They get the interest rate to shrink for three months from 0.25% to 0.25%, stopping at 0% p.a term deposits if you have withdrawn money earlier.

In some cases, the Bendigo consumers get a portion of the interest, they receive nothing with the first withdrawal. On the contrary, the customer has been receiving interest payments each month, the Bendigo Bank minus $58.33 from the $5,000 from the total amount. Similarly, the customers continue with the same position, they receive $25 interest with the principal amount.


In conclusion, the Bendigo Bank offers a platform for investors to save and maximize their saving potential. Though the deposit rates are equivalent to the competitive rate, Bendigo guarantees security and stability with competitive returns. Plus, it opens new horizons adding new strategies to meet your financial goals, especially the short-term goals.


Does Bendigo Bank have term deposits?

Bendigo Bank offers competitive interest rates with term deposits as per the choice of the consumers. Plus, Bendigo Bank’s deposit rates are guaranteed security and surety for the lifetime.

Can I put $1000 in a term deposit?

Yes, you can. The minimum balance required for your Bendigo bank deposits starts from $ 1, 000-$5,000.

How much interest does 1 million dollars earn in Australia?

Up to the current knowledge, the Bendigo term deposit interest rate is 5%pa per annum. If you deposit $1 million, you can earn at least $50,000 by the time it reaches maturity according to the calculation of Canstar’s Term Deposit Calculator. Due to certain conditions, you get a lower interest rate, which might be 4.5%, over the principal amount of $45,000, $5,000 less.

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