Savings account vs term deposit
GMCU Advantage Saver vs term deposit
5.03% a year
5.15% a year for 1 year
Compare on
Interest over 1 year on $50,000
$2,515
5.03% a year, conditions met
$2,575
5.15% a year · paid at maturity
Over 1 year on $50,000, GMCU Advantage Saver pays $2,515 with its conditions met; GMCU's 12-month term deposit pays $2,575.
Worked out on $50,000 until you pick a balance
GMCUAdvantage Saver
GMCUTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,515
with its conditions met
$2,575
paid at maturity
+$60 · More interest over the term
Interest over 1 year without meeting the conditions
on $50,000
$5
at the base rate
$2,575
no monthly conditions
Rate over the term
a year, on $50,000
5.03%
with its announced rate of 5.05% from 1 Dec
5.15%
fixed for the term
+0.12 · Higher rate over the term
Asked of you each month
- A deposit of at least $20
- 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
5.05% announced, from 1 Dec
No
fixed for 1 year
Minimum to open
None
$100
up to $1,000,000
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. GMCU Advantage Saver's figure holds today's rate for 1 year, with its announced rate of 5.05% 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 GMCU shares that one $250,000.
GMCU Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
9 monthsPaid at maturity3.70%$1,388
1 yearPaid at maturity5.15%$2,575
As of 9 November 2026, over 1 year on $50,000, GMCU Advantage Saver pays $2,515 with its monthly conditions met; GMCU's 12-month term deposit pays $2,575 at 5.15%. 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.