Savings account vs term deposit
Bank of Sydney BOS Saver vs term deposit
vs
Compare on
Interest over 1 year on $50,000
$2,625
5.25% a year
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, Bank of Sydney BOS Saver pays $2,625; Bank of Sydney's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
Bank of SydneyBOS Saver
Bank of SydneyTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,625
nothing to do each month
$2,650
paid at maturity
+$25 · More interest over the term
Rate over the term
a year, on $50,000
5.25%
5.30%
fixed for the term
+0.05 · Higher rate over the term
Asked of you each month
Nothing
Nothing
the money stays put
Getting the money out
Any time
no notice needed
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$1,000
Who can open it
Anyone 18 or over
Anyone
How they differ
- A savings rate can change at any time. Bank of Sydney BOS Saver's figure holds today's rate for 1 year.
- 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 Bank of Sydney shares that one $250,000.
Bank of Sydney 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 maturity3.50%$583
5 monthsPaid at maturity3.50%$729
7 monthsPaid at maturity3.70%$1,079
8 monthsPaid at maturity3.70%$1,233
9 monthsPaid at maturity4.00%$1,500
10 monthsPaid at maturity3.80%$1,583
11 monthsPaid at maturity3.80%$1,742
1 yearPaid at maturity5.30%$2,650
13 monthsPaid at maturity4.05%$2,194
2 yearsNot offered——
As of 2 November 2026, over 1 year on $50,000, Bank of Sydney BOS Saver pays $2,625 with nothing to do each month; Bank of Sydney's 12-month term deposit pays $2,650 at 5.30%. 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.