Savings account vs term deposit
Central Murray Bank Super Saver Account vs term deposit
2.25% a year
5.25% a year for 1 year
Compare on
Interest over 1 year on $50,000
$1,125
2.25% a year
$2,625
5.25% a year · paid at maturity
Over 1 year on $50,000, Central Murray Bank Super Saver Account pays $1,125; Central Murray Bank's 12-month term deposit pays $2,625.
Worked out on $50,000 until you pick a balance
Central Murray BankSUPER SAVER ACCOUNT
Central Murray BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$1,125
nothing to do each month
$2,625
paid at maturity
+$1,500 · More interest over the term
Rate over the term
a year, on $50,000
2.25%
5.25%
fixed for the term
+3.00 · 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
$500
up to $3,500,000
Who can open it
Anyone under 19
Anyone
How they differ
- A savings rate can change at any time. Central Murray Bank Super Saver Account'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 Central Murray Bank shares that one $250,000.
Central Murray 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 maturity3.50%$583
9 monthsPaid at maturity3.75%$1,406
10 monthsPaid at maturity3.75%$1,563
11 monthsPaid at maturity3.75%$1,719
1 yearPaid at maturity5.25%$2,625
15 monthsPaid annually4.25%$2,656
As of 13 November 2026, over 1 year on $50,000, Central Murray Bank Super Saver Account pays $1,125 with nothing to do each month; Central Murray Bank's 12-month term deposit pays $2,625 at 5.25%. 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.