Savings account vs term deposit
Australian Mutual Bank Momentum Saver account vs term deposit
5.58% a year
5.35% a year for 1 year
Compare on
Interest over 1 year on $50,000
$2,790
5.58% a year, conditions met
$2,675
5.35% a year · paid at maturity
Over 1 year on $50,000, Australian Mutual Bank Momentum Saver account pays $2,790 with its conditions met; Australian Mutual Bank's 12-month term deposit pays $2,675.
Worked out on $50,000 until you pick a balance
Australian Mutual Bank LTDMomentum Saver account
Australian Mutual Bank LTDTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,790
with its conditions met
+$115 · More interest over the term
$2,675
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$50
at the base rate
$2,675
no monthly conditions
Rate over the term
a year, on $50,000
5.58%
with its announced rate of 5.60% from 1 Dec
+0.23 · Higher rate over the term
5.35%
fixed for the term
Asked of you each month
- A deposit of at least $100
- No withdrawals
Nothing
the money stays put
Getting the money out
Any time
a withdrawal can cost that month’s bonus
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
5.60% announced, from 1 Dec
No
fixed for 1 year
Minimum to open
None
$1,000
The same on both
Nothing to compare in these: both say the same.
- AnyoneWho can open it
How they differ
- A savings rate can change at any time. Australian Mutual Bank Momentum Saver account's figure holds today's rate for 1 year, with its announced rate of 5.60% from 1 Dec.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at Australian Mutual Bank shares that one $250,000.
Australian Mutual Bank Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
4 monthsPaid at maturity4.25%$708
5 monthsPaid at maturity4.25%$885
7 monthsPaid at maturity5.10%$1,487
8 monthsPaid at maturity4.25%$1,417
9 monthsPaid at maturity4.75%$1,781
10 monthsPaid at maturity4.25%$1,771
11 monthsPaid at maturity4.25%$1,948
1 yearPaid at maturity5.35%$2,675
13 monthsPaid at maturity4.25%$2,302
18 monthsPaid at maturity4.25%$3,188
3 yearsPaid at maturity4.25%$6,375
As of 9 November 2026, over 1 year on $50,000, Australian Mutual Bank Momentum Saver account pays $2,790 with its monthly conditions met; Australian Mutual Bank's 12-month term deposit pays $2,675 at 5.35%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.