Business term deposit
Watch your savings explode.
12-Month Term Deposit Special
New Money special available for new deposits from $10,000 up to $1 million. Available until 31 Mar 2026 or until limited allocation is reached, whichever occurs first.
What's included.
Enjoy savings & guaranteed growth.
Lock it.
Higher rates of interest when you lock your money away.
Flexible.
Choice of investment terms from 1 month - 1 year.
Frequency.
Choose your interest frequency on maturity or monthly.
Term Deposit Specials
12 month term deposit
5.00%p.a*
Interest paid on maturity. Available for new money only, minimum deposit amount $10,000 up to $1 million. Deposits over $1 million subject to approval.
Rates & Fees
Balance of $5,000 to $99,999
| Term | Interest (Monthly) | Interest (On Maturity) | Interest (Annually) |
| 3 month | 4.10% p.a.1 | 4.20% p.a.1 | n/a |
| 6 month | 4.20% p.a.1 | 4.30% p.a.1 | n/a |
| 12 month | 4.30% p.a.1 | n/a | 4.40% p.a.1 |
| 2 year | 3.90% p.a.1 | n/a | 4.00% p.a.1 |
| 3 year | 3.90% p.a.1 | n/a | 4.00% p.a.1 |
Balance of $100,000 to $1,000,000
| Term | Interest (Monthly) | Interest (On Maturity) | Interest (Annually) |
| 3 month | 4.20% p.a.1 | 4.30% p.a.1 | n/a |
| 6 month | 4.30% p.a.1 | 4.40% p.a.1 | n/a |
| 12 month | 4.40% p.a.1 | n/a | 4.50% p.a.1 |
| 2 year | 3.90% p.a.1 | n/a | 4.00% p.a.1 |
| 3 year | 3.90% p.a.1 | n/a | 4.00% p.a.1 |
Interest rates are subject to term deposit principal and term of investment. Interest is calculated daily on closing credit balance and will be paid either monthly, on maturity or annually (for terms greater than 12 months). Fixed interest rate for the term of the investment.
For longer term periods, please contact us directly on 1300 132 249.
Early withdrawal fees and interest penalties may apply.
For additional information on our fees, refer to our Fees and Charges.
Monthly interest cannot be compounded onto the Term Deposit.
FAQ about Business Term Deposits
A business term deposit is a straightforward investment option for companies. You put aside a sum of money for a fixed period, during which the funds earn interest at a predetermined rate. Term deposits offer a predictable way to grow your funds, providing a secured return on your company’s spare capital.
Maturity is the date when your term deposit period ends. At this point, your business receives the original amount invested, along with the interest it has earned. This moment is important for decision-making, as you can choose to reinvest the funds, move them to a more accessible account, or use them for business needs. Being aware of the maturity date is key to effective financial planning.
Choosing between a business savings account and a term deposit depends on your need for financial flexibility. A savings account offers the freedom to withdraw funds as needed, which is beneficial for managing regular expenses or unforeseen costs. In contrast, a term deposit is more suitable if you’re able to lock away funds for a longer period in exchange for a typically higher interest rate. It’s about balancing accessibility with the potential for higher earnings.
The best term deposit for your business balances your financial objectives with your liquidity needs. Consider how much money you can invest, the duration you can comfortably commit it for, and the interest rate offered. The ideal term deposit should match your business’ financial strategy, offer a competitive rate, and fit within your overall cash flow management plan. It’s about aligning your investment with both your short-term needs and long-term goals.
Important notes
1Rates are current as at 13/02/2026 and subject to change without notice. Rates are for deposits between $5,000 and $1,000,000. Rates for amounts above $1,000,000 are negotiated at the discretion of Illawarra Credit Union. If you seek an early release of your term deposit prior to its maturity date, an early withdrawal interest penalty may apply. Interest paid cannot be compounded into the investment. Term Deposits are available to be withdrawn at maturity. We may require up to 7 days written notice of your intention to make an early withdrawal.
*Offer terms and conditions: Rate is effective as at 03/03/2026 and is available until 31/05/2026 or until limited allocation is reached – whichever occurs first. Offer can be withdrawn or change at any time. Rates are for deposits between $10,000 and $1 million. Rates for amounts above $1 million are subject to approval. If you seek an early release of your term deposit prior to its maturity date, an early withdrawal interest penalty may apply. Term Deposits are available to be withdrawn at maturity. We may require up to 7 days written notice of your intention to make an early withdrawal. Offer is for new term deposits and is only eligible for funds that have not been with Community First, Illawarra Credit Union or Easy Street in the last 14 days from the date of enquiry and where the offer conditions are met. Existing members with existing funds may be eligible so long as at least $50,000 of the funds are new deposits and have not been held at Community First, Illawarra Credit Union or Easy Street in the last 14 days from the date of enquiry.
Illawarra Credit Union, a division of Community First Credit Union Limited ABN 80 087 649 938 AFSL and Australian credit licence 231204, is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request.tools and calculators
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Frequently asked questions
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Find out moreGovernment Guarantee
We’re an Authorised Deposit-Taking Institution (ADI), which means our members can rest assured that their balances of up to $250,000 are guaranteed by the Australian Government.
