Savings account vs term deposit
Southern Cross Credit Union Little Star Saver vs term deposit
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Interest over 1 year on $50,000
$2,600
5.20% a year, conditions met
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, Southern Cross Credit Union Little Star Saver pays $2,600 with its conditions met; Southern Cross Credit Union's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
Southern Cross Credit UnionLITTLE STAR SAVER
Southern Cross Credit UnionTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,600
with its conditions met
$2,650
paid at maturity
+$50 · More interest over the term
Interest over 1 year without meeting the conditions
on $50,000
$500
at the base rate
$2,650
no monthly conditions
Rate over the term
a year, on $50,000
5.20%
with its conditions met
5.30%
fixed for the term
+0.10 · Higher rate over the term
Asked of you each month
- 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
Who can open it
Anyone under 15
Anyone
How they differ
- A savings rate can change at any time. Southern Cross Credit Union Little Star 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 Southern Cross Credit Union shares that one $250,000.
Southern Cross Credit Union 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 maturity1.15%$48
2 monthsPaid at maturity1.15%$96
4 monthsPaid at maturity4.50%$750
5 monthsPaid at maturity4.05%$844
7 monthsPaid at maturity5.00%$1,458
8 monthsPaid at maturity3.80%$1,267
9 monthsPaid at maturity5.30%$1,988
10 monthsPaid at maturity3.80%$1,583
11 monthsPaid at maturity5.10%$2,337
1 yearPaid at maturity5.30%$2,650
18 monthsPaid annually3.50%$2,625
Term deposit
Southern Cross Credit Union Term Deposit
Go to siteAll Southern Cross Credit Union term depositsAs of 2 November 2026, over 1 year on $50,000, Southern Cross Credit Union Little Star Saver pays $2,600 with its monthly conditions met; Southern Cross Credit Union'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.