About UsContact Us
Search

12 - 23 Month | Fixed Term Deposit

12 to 23 Month | Fixed Term Deposit

4.00
%
interest
paid
on
maturity1
PA
3.90
%
interest
paid
monthly2
PA

Whether you’re saving for a home, a new car, a dream holiday or another personal goal, our fixed term deposit can help you reach it faster with a competitive interest rate.

Minimum deposit balance of $1,000 for interest paid on maturity1

Interest rate is fixed for the full term

Flexible terms: choose your period from 12 to 23 months

No application or ongoing fees

We’ll notify you before your fixed term expires

Apply online Book appointment
Terms
Interest Paid on Maturity1
Interest Paid Monthly2
3 to 5 Months
2.60%pa
2.50%pa
6 to 11 Months
3.10%pa
3.00%pa
12 to 23 Months
4.00%pa
3.90%pa
24 to 35 Months
3.40%pa
3.30%pa
36 Months
3.30%pa
3.20%pa

1 Interest paid on maturity – Minimum opening balance of $1,000 (members under 18 years old minimum $500)

2 Interest paid monthly – Minimum opening balance of $5,000

How to Apply

How do I Apply?

Applying is simple! At LCU you have the flexibility to apply whenever and wherever you want to.

Apply for a Membership Apply Online now
Get in touch with our team Call us
Email your enquiry to our team Email us
Visit us at our branch Contact us

Terms and Conditions for Fixed Term Deposits

  • Interest paid on maturity – Minimum opening balance of $1,000 (members under 18 years old minimum $500)
  • Interest paid monthly – Minimum opening balance of $5,000
  • Eligibility criteria, terms and conditions apply. Rates are subject to change.
  • View the Target Market Determination for these products here
  • 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, 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 monthly interest apply.

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 monthly basis by:

  • adding it to your deposit (only available on interest on maturity deposits)
  • Transferring it to your savings account
  • 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 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 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.

Please review the Target Market determination form here