Secure an excellent return
Our Fixed Term Deposit accounts are a great way to earn interest on money that you do not need to immediately access. We offer term deposit accounts over a variety of terms to fit in with your investment requirements.
Fixed Term
Term Deposits
Features and Conditions
Our Fixed Term Deposit Accounts feature:
|
No establishment or account fee 3 month minimum term Minimum amount $1,000 |
Competitive rates Interest paid monthly or at maturity |
Fixed Term Deposit Interest Rates
Period
Interest rate
3 to 5 months
2.60% pa
6 to 11 months
3.10% pa
12 to 23 months
4.60% pa
24 to 35 months
4.50% pa
36 months
4.60% pa
12 Months Monthly interest
3.35% pa
Loyalty bonus
0.10% pa
Apply now
How do I apply?
Applying is simple! At LCU you have the flexibility to apply whenever and wherever you want to.
Membership application
Apply online now
Enquire online
Contact form
Call us
(02) 9859 0585
Visit us at our branch
Contact Us
Terms and Conditions for Fixed Term Deposits
Rates are subject to change. Please refer to our rates and fees page.
If you roll over your Personal Term Deposit (for the same or a different term) and you hold all of your funds in your new Personal Term Deposit until the maturity date, you will be rewarded with a loyalty bonus – a non-cumulative add-on to the standard Personal Term Deposit interest rate applicable at roll over.
The loyalty bonus offer does not apply to the Monthly Interest term deposit.
Interest paid on maturity. Minimum opening balance of $1,000 (members under 18 years old minimum $500) or $5,000 for Cheque-a-Month deposits apply.
View the Target Market Determination for this product:
- Interest Paid on Maturity – I3 Fixed term deposit – Target Market Determination
- Interest Paid Monthly – I5 Fixed term deposit – Target Market Determination
For deposits over $500,000 rates by negotiation.
Should you wish to withdraw part or the whole of the deposit before the term has matured we may require 7 days written notice. Where a withdrawal is made prior to the maturity date we will calculate the interest based on the below:
Penalty for early withdrawal
When withdrawal is made
Interest rate reduction
Less than 7 days after the beginning of the term
No interest is paid
7 days or more after the beginning of the term where:
Less than 20% of the term has elapsed
90% of the interest rate that applied to your deposit.
20% to 39.99% of the term has elapsed
80% of the interest rate that applied to your deposit.
40% to 59.99% of the term has elapsed
60% of the interest rate that applied to your deposit.
60% to 79.99% of the term has elapsed
40% of the interest rate that applied to your deposit.
80% to 99.99% of the term has elapsed
20% of the interest rate that applied to your deposit.
Things you should know
Please note, the above penalty structure is applicable for term deposits invested from 19th December 2022. If your term deposit was invested prior to this please refer to your Certificate of Investment for information on the penalty for early redemption.
In some circumstances the “Pay by the Month I5 FTD” where Monthly interest has already been paid could result in a reduction to the value of the original FTD deposit. If interest has been paid monthly or quarterly on a higher rate and part of the deposit is withdrawn, the interest previously paid will be recalculated at the reduced rate. The interest will be deducted from the interest payable at the time of withdrawal, or if this is not sufficient, from the principal at the time of withdrawal.
A minimum opening balance of $1,000 per deposit or $5,000 for Cheque-a-Month deposits apply.
Cheque-a-Month Term deposits are only available for a 12 month term.
Interest shall accrue daily from the date of deposit to the maturity date.
Interest accruing on the deposit shall be paid either on maturity or on a periodic (monthly/quarterly for Cheque-a-Month term deposits) basis by:
- adding it to your deposit (only available on maturing deposits)
- Transferring it to your savings account
- Sending a cheque to your home address
- Electronic transfer
Additional deposits to an existing term deposit account may only be made upon expiry of the current term.
If interest has been paid monthly or quarterly on a higher rate and part of the deposit is withdrawn, the interest previously paid will be recalculated at the reduced rate. The interest will be deducted from the interest payable at the time of withdrawal, or if this is not sufficient, from the principal at the time of withdrawal.
Prior to maturity we will notify you of the current interest rates and terms being offered. At maturity you may nominate to have the principal renewed, transferred to a nominated account, paid by cheque or sent by electronic transfer. If you do not nominate how the principal and/or interest are to be paid, we will reinvest the principal and/or interest for the same term as the original investment.
Information about this product is contained in our Account & Access – Conditions of Use disclosure statement, a copy of which can be found here or if you require a printed copy please contact us.