Business term deposit

Watch your savings explode.

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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.

Rates & Fees

Business Term Deposit

Term	Interest Annually ($1,000+)	Interest Monthly ($1,000+)
3 month	4.25% p.a.	N/A
4 month	4.25% p.a.	N/A
5 month	4.25% p.a.	N/A
6 month	4.15% p.a.	N/A
7 month	4.15% p.a.	N/A
8 month	4.15% p.a.	N/A
9 month	4.15% p.a.	N/A
10 month	4.15% p.a.	N/A
11 month	4.15% p.a.	N/A
12 month	4.10% p.a.	4.00% p.a.

Interest & Fees

Interest rates are subject to amount invested and length of investment.
Calculated daily on closing credit balance, and will be paid either monthly or at maturity. 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.

Business Term Deposit Solutions

At Illawarra Credit Union, we understand the importance of a strong financial foundation for business growth and stability.

Our business term deposits are designed for you to utilise a business’ surplus funds efficiently. They provide a balance of security, efficiency, and profitability.

With Illawarra Credit Union’s business term deposits, you benefit from competitive interest rates and the assurance of a guaranteed return.

Understanding Business Term Deposits

Business term deposits are a type of fixed-term investment typically for managing a business’ excess funds.

In this arrangement, you deposit a specific amount for a set period during which your funds earn interest at a fixed rate. This rate typically exceeds what a standard business savings account offers, making term deposits an attractive option for growing surplus capital.

The primary advantage of a business term deposit is its predictability. The fixed interest rate allows for precise planning and budgeting for future business needs.

Business term deposits are especially suitable for companies to allocate funds for a period without needing immediate access. Investing in a term deposit enables your business to earn a predicted return without the risk of other investment avenues.

Who Are Business Term Deposits For?

Business term deposits are typically for:

SMEs with steady cash flow
Corporates planning for future expenditure
Start-ups looking to build reserves

Advantages of Business Term Deposits

Financial Security: With guaranteed returns, these deposits provide a secure haven for your funds. Additionally, as part of the Australian Government’s Financial Claims Scheme, deposits in Illawarra Credit Union are protected up to a certain limit for eligible accounts, giving you extra peace of mind.
Flexible Investment Terms: Catering to various business needs, we offer a range of term lengths to suit your financial plans.
Predicted Income: Fixed interest rates make forecasting and planning simple.

Finding the Best Business Term Deposit Rates

Identifying the most suitable business term deposit rates is a crucial step in financial planning for your business accounts.

The ideal rate should positively impact your investment’s growth, aligning with both immediate and long-term business strategies.

Other Factors to Consider in Business Term Deposits

Selecting the right business term deposit for your company involves more than just looking at the interest rate. It’s about finding a balance that suits your business’ specific needs and goals. Key factors to consider include:

Minimum Investment: There are various options available to accommodate different investment levels and provide businesses of all sizes with the benefit of term deposits.

Early Withdrawal Terms: Understanding the terms regarding early withdrawal is crucial as accessing funds before maturity can incur penalties.

Interest Payment Flexibility: Choosing an interest payment schedule that aligns with your business’ cash flow according to your financial management and planning strategies.

Partner with Illawarra Credit Union for Your Business Term Deposit Needs

By combining competitive rates with flexible terms, we can help you achieve your business’ unique financial requirements.

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

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.

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