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Australian Government
Deposit Guarantee:
Wide Bay Australia received the Guarantee in October 2008 due to our status as an Authorised Deposit-taking Institution (‘ADI’) prudentially supervised by the Australian Prudential Regulation Authority (‘APRA’). On 12 September 2011, the Government announced that the Scheme will now be extended indefinitely with new limits of $250,000 per person per ADI from 1 February 2012. Term deposits which existed on 10 September 2011 will continue to be covered up to $1 million per person per ADI until 31 December 2012 or until they mature – whichever is earlier. Ask at a branch or visit our website for details.
Government Guaranteed Deposits


Term Deposits

"A fantastic way to increase growth"

$500 or $500,000 - earning a competitive rate for your business is easy...

We pay a competitive rate of interest on Term Deposits because you invest for a fixed term. Your interest rate is protected for that agreed term.

The Term Deposit you select and the interest rate you receive will depend on the amount of money you wish to invest (the principal); the length of time you wish to invest it for (the term) and when and how you want the interest paid.

Features

Competitive Interest   Lock into one of our great rates! (PDF, 135KB)!
Minimum Balance   We offer a range of term deposits from $500 or more. At most banks you will need $1000.
Investment Term   We offer terms from one month up to 60 months (5 years)**
Interest Payment   The interest rate is fixed for the agreed term. You can elect to have interest paid:
  • On maturity (at the end of the term agreed to);
  • At the end of each calendar month;
  • At the end of each financial quarter – March, June, September, December; or
  • At the end of each calendar year.

When your interest is paid, it may be:

  • Reinvested by you together with your principal into a completely new term deposit;
  • Credited automatically to any of your other Wide Bay Australia accounts;
  • Credited automatically to an approved account at another financial institution;
  • Posted to you by cheque; or
  • If you elect to have interest paid on maturity, unless you advise us to the contrary, your interest will be automatically reinvested together with your principal in a new term.
Options on maturity   At the end of your term, unless we are notified in writing or on the appropriate form, your deposit will be automatically renewed for the same term and at the current interest rate at that time.Alternatively, you may notify us up to two calendar days either side of the maturity date and:
  • Transfer your investment to a different term deposit;
  • Deposit to or withdraw from the term deposit;
  • Have the full amount of your term deposit paid to any of your other accounts with Wide Bay;
  • Have the full amount paid to you by cheque;
  • Use the funds to pay any of your bills displaying the BPAY® symbol
Statements  
  • You will receive a personalised Investment Record showing all details of your Term Deposit
  • Free statement every 12 months (normally on the anniversary of your term deposit opening date)
  • Additional free statements or updated Investment Record on maturity - available on request
  • Your statement delivered directly to your accountant via BankLink
Deposit methods  
  • Cash or cheque deposit at a branch
  • Direct Credit from another financial institution to your Wide Bay Australia account
  • Transfer from another Wide Bay Australia account
Add-on   You can add to an existing Term Deposit up to two calendar days either side of the maturity date
Sub-Accounts   Operate more than one Term Deposit under the same number for different purposes.
Account Fees   There are no account fees.
Package Bonus   If you are a Wide Bay Australia home loan and/or line of credit customer with a Home Options Package you are eligible to apply for a Term Deposit bonus interest rate Package Benefit.

Wide Bay Australia Ltd ABN 40 087 652 060 (AFS Licence No: 239686) is the issuer of this account/these accounts and any non-cash payment facilities that may be used in conjunction with them. To decide if they are appropriate for you please carefully read the booklet 'Your Guide to Wide Bay Australia's Accounts and Banking Services' (PDF, 1004KB)
BPAY® is a trade mark of BPAY Pty Ltd (ABN 69 079 137 518)