Savings account vs term deposit
BCU Boss Saver vs term deposit
vs
Compare on
Interest over 1 year on $50,000
$2,750
5.50% a year, conditions met
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, BCU Boss Saver pays $2,750 with its conditions met; BCU's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
BCUBoss Saver
BCUTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,750
with its conditions met
+$100 · More interest over the term
$2,650
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$100
at the base rate
$2,650
no monthly conditions
Rate over the term
a year, on $50,000
5.50%
with its conditions met
+0.20 · Higher rate over the term
5.30%
fixed for the term
Asked of you each month
- A deposit of at least $500
- 5 card purchases
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
up to $1,000,000
Who can open it
Anyone 18 or over
Anyone
How they differ
- A savings rate can change at any time. BCU Boss 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 BCU shares that one $250,000.
BCU Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity1.20%$50
2 monthsPaid at maturity1.60%$133
4 monthsPaid at maturity4.55%$758
5 monthsPaid at maturity4.70%$979
7 monthsPaid at maturity3.85%$1,123
8 monthsPaid at maturity3.85%$1,283
9 monthsPaid at maturity3.85%$1,444
10 monthsPaid at maturity3.55%$1,479
11 monthsPaid at maturity4.00%$1,833
1 yearPaid at maturity5.30%$2,650
3 yearsPaid annually3.35%$5,025
As of 2 November 2026, over 1 year on $50,000, BCU Boss Saver pays $2,750 with its monthly conditions met; BCU'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.