Savings account vs term deposit
Bank of Us Save up vs term deposit
5.30% a year
5.30% a year for 1 year
Compare on
Interest over 1 year on $50,000
$2,650
5.30% a year, conditions met
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, Bank of Us Save up pays $2,650 with its conditions met; Bank of Us's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
Bank of UsSave up
Bank of UsTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,650
with its conditions met
$2,650
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$200
at the base rate
$2,650
no monthly conditions
Rate over the term
a year, on $50,000
5.30%
with its conditions met
5.30%
fixed for the term
Asked of you each month
- A deposit of at least $50
- 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
the bank sets it
No
fixed for 1 year
Minimum to open
None
$5,000
up to $500,000
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. Bank of Us Save up'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 Us shares that one $250,000.
Bank of Us Fixed Term Investment at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity2.00%$83
2 monthsPaid at maturity2.00%$167
4 monthsPaid at maturity4.75%$792
5 monthsPaid at maturity4.80%$1,000
7 monthsPaid at maturity5.10%$1,487
8 monthsPaid at maturity4.00%$1,333
9 monthsPaid at maturity5.35%$2,006
10 monthsPaid at maturity4.00%$1,667
1 yearPaid at maturity5.30%$2,650
13 monthsPaid at maturity5.00%$2,708
18 monthsPaid at maturity4.50%$3,375
3 yearsPaid at maturity4.20%$6,300
As of 9 November 2026, over 1 year on $50,000, Bank of Us Save up pays $2,650 with its monthly conditions met; Bank of Us'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.