Heritage Term Deposit Rates Comparison

Posted June 8th, 2010 and last modified April 11th, 2013

A term deposit account can offer you a guaranteed return on your investment and allows you to fix your deposit amount and your interest rate, and not have to worry about managing your investment. By fixing your term deposit rates you are also protected from any economic pressures on your term deposit provider and though they may lower their standard interest rates, your term deposit has already been fixed. So you can see just how important it is that the interest rate on your term deposit is the best it can be before it is fixed, so find out whether the Heritage term deposit account has the rates and the features you are looking for.

Features of the Heritage Bank Term Deposit Account

The options offered on the Heritage term deposit account make investing very accessible and very easy because you need only a low minimum balance to open a term deposit account initially, but you can easily roll over your investment amount as it grows to qualify for higher Heritage term deposit rates, or even negotiate personalised term deposit rates if you have more than $250,000 to invest. Other features of the Heritage term deposit which may suit you include:

  • Try your hand at secure Australian investments with as little as $1,000. To open a Heritage term deposit account you will need a minimum balance of $1,000 which you can invest for any term you choose between one month and five years. A term deposit account is not the inflexible and high stakes investment product it is perceived to be, but instead can help you grow a deposit of almost any size, into an even greater one.
  • Interest paid at maturity, annually or as an income. If you choose a term less than 12 months, your interest will be paid at the maturity of your investment. For terms longer than 12 months your interest is automatically paid annually, but you can also choose to have your interest paid as an income too. if you are a pensioner you can apply to have your interest paid fortnightly, otherwise you can choose from monthly, quarterly or six monthly returns. This flexibility can help you manage your investment more easily and may even allow you to invest a larger amount to qualify for a higher Heritage term deposit rate, because you don't have to wait until the end of your term to enjoy your returns, and can instead use them to supplement your income regularly as you choose.
  • Download and post back your application form in your own time. You can follow the secure links from the Savings Account Finder™ comparison tables to download an application form from the Heritage Bank website. You can fill in your personal details and term deposit choices and return it when you can, rather than making an appointment and going all the way into the branch to apply.

Term Deposit Accounts Comparison

3 Months p.a. 4 Months p.a. 6 Months p.a. 12 Months p.a. 24 Months p.a. 36 Months p.a. 60 Months p.a. Min Deposit
Bankwest Online Term Deposit
Bankwest Online Term Deposit
3.60% 3.00% 3.00% 3.70% 3.85% 4.10% 4.50% $1,000 OpenMore
RaboDirect Term Deposit
RaboDirect Term Deposit
3.50% 3.55% 3.65% 4.00% 4.10% 4.60% $1,000 OpenMore
St.George Term Deposit
St.George Term Deposit
2.90% 3.40% 3.35% 3.45% 4.00% 4.10% 4.55% $1,000 OpenMore
ING DIRECT Term Deposit
ING DIRECT Term Deposit
3.40% 3.40% 3.70% 3.80% 4.00% $10,000 OpenMore

Current Heritage Term Deposit Rates

To learn more about the Heritage term deposit rates you could be earning on your investment, compare the interest rates offered on term deposits between $5,000 and $19,999 with interest paid at maturity, or annually on terms longer than 12 months:

  • On a three month term you can earn 3.65% interest.
  • On a 12 month term you can earn 3.80% interest.
  • On a five year term you can earn 4.00% interest.

Don't forget that term deposit providers always advertise their rates as per annum rates, so where a three month term and a 12 month term have the same per annum rate, you are earning 2.00% interest on a 12 month term because it is for the full year, but only a quarter of your per annum rate offered on a three month term, because it is a quarter of the year.

If you would like more information about how the Heritage term deposit rates compare to those of other Australian providers, view our comparison tables here. Once you have decided on the Heritage term deposit rate and term which suit you, follow our secure links to the Heritage Bank website to download an application form today.

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Rates and fees mentioned in comments are correct at the time of publication.
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Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
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