03
Fixed Deposit Account
Lock a lump sum away for a fixed term and let a higher rate compound.
Overview
How this ledger works
A Fixed Deposit sets money aside for an agreed term in exchange for a higher illustrative rate than an everyday savings ledger. The longer the term modelled here, the higher the rate tier, mirroring how real term deposits are usually priced.
Key features
- Terms modelled from 3 months to 5 years
- Rate tier increases with term length
- Option to auto-renew at maturity (demo)
- Early withdrawal reduces the rate tier
Who it's for
- Savers with a lump sum not needed short-term
- Individuals building a fixed maturity goal
- Anyone wanting a rate above the savings ledger
Rates & charges (illustrative)
| Detail | Value |
|---|---|
| Minimum deposit | $500.00 |
| 3–6 month tier (illustrative) | 4.10% p.a. |
| 1 year tier (illustrative) | 5.40% p.a. |
| 3–5 year tier (illustrative) | 6.25% p.a. |
| Early withdrawal adjustment | −1.50% off accrued rate |
Frequently asked
In this model, the deposit can be set to auto-renew at the then-current tier or paid out to a linked account.
Yes, modelled with a rate penalty rather than a hard lock, similar to many real term deposits.
Yes, the illustrative rate is locked once the deposit is opened.
Express Interest
Open this account
confirmation
Your interest in a Fixed Deposit Account has been logged in mode only. Reference no. EDU-000000. No real action has been taken.