term deposits
Fixed term deposits, offer investors a secure, guaranteed rate of return on funds for the life of an investment. For your convenience, you can choose the term or interest rate that best suits you.
- high returns
- federal government deposit guarantee*
- invest from as little as $500
- fixed interest rates, and;
- safe and secure investment
flexible investment terms
You can select from a range of investment terms starting from 3 months up to 24 months, and investment amounts from a minimum of $500 to an unlimited maximum to suit your needs.
fixed interest rates
This means you are guaranteed a rate of return over the term of the investment.
the process
Once your application for a Fixed Term Deposit has been approved by mecu, the following will occur: - the fixed term deposit will be established within your membership and a Certificate of Deposit will be issued and sent to you
- two weeks prior to maturity date, a letter will be sent to you to notify you of your term deposit maturity. You will be requested to provide instructions for re-investment or redemption of the term deposit
- we will act upon your instructions. If we do not receive any instructions from you, the term deposit will be automatically re-invested at maturity, for the same term and conditions as previously invested, at the prevailing interest rate
term deposit offers (as at 04/12/2008)
| 3 months |
3.00% |
4.00% |
4.00% |
4.00% |
4.00% |
| 4 - 8 months |
1.75% |
3.35% |
3.50% |
3.50% |
3.75% |
| 9 - 11 months |
1.75% |
3.35% |
3.50% |
3.50% |
3.75% |
| 12 - 18 months |
1.50% |
3.10% |
3.25% |
3.25% |
3.50% |
| 19 - 24 months |
1.50% |
3.00% |
3.00% |
3.00% |
3.10% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
interest paid on a six-monthly basis
| 12 months |
1.45% |
3.05% |
3.20% |
3.20% |
3.45% |
| 18 or 24 months |
1.45% |
2.95% |
2.95% |
2.95% |
3.05% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
interest paid on a monthly basis
| 12 - 18 months |
2.90% |
3.05% |
3.05% |
3.30% |
| 19 - 24 months |
2.80% |
2.80% |
2.80% |
2.90% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
interest paid on a fortnightly basis
| 12 - 18 months |
2.85% |
3.00% |
3.00% |
3.25% |
| 19 - 24 months |
2.75% |
2.75% |
2.75% |
2.85% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
edvest regular income term deposits with fortnightly interest
| 12 or 24 months |
3.25% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
edvest deferred interest term deposits
| 6 or 12 months |
1.50% |
3.50% |
Interest rates are fixed for the term of the investment. Fixed Term Deposit rates are applicable to all new term deposits and rollovers as advised by a maturity letter. Early Withdrawal Policy applies to Fixed Term Deposits. back to term deposit offers |
Early Withdrawal Policy
By opening a Term Deposit with mecu, an agreement is entered into whereby the Credit Union agrees to pay a specified interest rate on the amount invested. Interest paid on principal amounts withdrawn early will equate to the percentage of the current term over the original agreed term. e.g. If the term deposit is held for 80% of the original term, 80% of the accrued interest will be paid upon early redemption. Any funds not redeemed will remain in the account until final expiry of the agreed term and will attract the full rate of interest as originally specified. Minimum retained balance is $500.
All interest rates quoted are annual percentage rates. Fees and charges may apply. Terms and conditions available on request.
* Deposits up to $1m are automatically guaranteed by the Australian Government under the Financial Claims Scheme free or charge. The guarantee is voluntary for deposits in excess of $1m and shall incur a fee.
General Advice Warning
In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents before making a decision to apply for products with mecu.
mecu is committed to delivering memorable and superior service to all members. We welcome your feedback, compliments and/or complaints about our performance.
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