Savings account vs term deposit
Great Southern Bank Youth eSaver vs term deposit
vs
Compare on
Interest over 1 year on $50,000
$737
1.47% a year
$2,675
5.35% a year · paid at maturity
Over 1 year on $50,000, Great Southern Bank Youth eSaver pays $737; Great Southern Bank's 12-month term deposit pays $2,675.
Worked out on $50,000 until you pick a balance
Great Southern BankYouth eSaver
Great Southern BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$737
nothing to do each month
$2,675
paid at maturity
+$1,938 · More interest over the term
Rate over the term
a year, on $50,000
1.47%
blended across its tiers
5.35%
fixed for the term
+3.88 · 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
$5,000
Who can open it
Anyone under 18
Anyone
How they differ
- A savings rate can change at any time. Great Southern Bank Youth eSaver'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 Great Southern Bank shares that one $250,000.
Great Southern Bank Standard Rate 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 maturity3.50%$146
2 monthsPaid at maturity4.00%$333
4 monthsPaid at maturity4.40%$733
5 monthsPaid at maturity4.40%$917
7 monthsPaid at maturity5.25%$1,531
8 monthsPaid at maturity3.95%$1,317
9 monthsPaid at maturity4.65%$1,744
10 monthsPaid at maturity3.15%$1,313
11 monthsPaid at maturity4.65%$2,131
1 yearPaid at maturity5.35%$2,675
13 monthsPaid at maturity2.30%$1,246
14 monthsPaid at maturity2.30%$1,342
15 monthsPaid at maturity2.30%$1,437
16 monthsPaid at maturity2.30%$1,533
17 monthsPaid at maturity2.30%$1,629
18 monthsPaid at maturity3.20%$2,400
19 monthsPaid at maturity2.30%$1,821
20 monthsPaid at maturity2.30%$1,917
21 monthsPaid at maturity2.30%$2,012
22 monthsPaid at maturity2.30%$2,108
23 monthsPaid at maturity2.30%$2,204
3 yearsPaid at maturity5.00%$7,500
4 yearsPaid at maturity5.00%$10,000
5 yearsPaid at maturity5.35%$13,375
Term deposit
Great Southern Bank Standard Rate Term Deposit
Go to siteAll Great Southern Bank term depositsAs of 2 November 2026, over 1 year on $50,000, Great Southern Bank Youth eSaver pays $737 with nothing to do each month; Great Southern Bank's 12-month term deposit pays $2,675 at 5.35%. 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.