Bendigo Bank Term Deposit Review (2026)
Bendigo Bank Term Deposit Review (2026)Rates and details verified 24 June 2026
Rates can change without notice. Last verified: 24 June 2026 (AEST). Please confirm details on the bank’s official page.
Best rate
5.10%
p.a. for 12 months
Minimum deposit
$5,000
to open
24-month rate
4.50%
p.a. — lower than 12m
About Bendigo Bank Term Deposits
Bendigo and Adelaide Bank is an ASX-listed Australian bank with a strong community banking focus. It offers term deposits from 1 month to 5 years, with the 12-month rate of 5.10% p.a. being the most competitive on its schedule.
A notable feature of Bendigo's rate schedule is its unusual shape: short-term rates (3m: 2.75%, 6m: 3.00%) are well below market, the 12-month rate is competitive (5.10%), but the 24-month rate drops back to 4.50% — lower than the 12-month rate. Investors should be aware of this before choosing a term.
For 12-month deposits specifically, Bendigo's 5.10% p.a. is competitive with BOQ and Westpac (both also 5.10%). The main alternative within the community/regional banking space is Newcastle Permanent or IMB Bank. Bendigo is an APRA-regulated ADI, with deposits protected up to $250,000.
Current Term Deposit Rates
| Term | Rate (p.a.) | Notes |
|---|---|---|
| 3 months | 2.75% | Low vs market — consider ING (4.75%) instead |
| 6 months | 3.00% | Low vs market — consider ING (5.05%) instead |
| 12 months | 5.10% | At maturity — best rate on the schedule |
| 24 months | 4.50% | Lower than 12m — consider 12m rollover instead |
Check Bendigo Bank's website for the latest rates before investing.
Pros and Cons
Pros
- ✓ 5.10% for 12 months — competitive at this term
- ✓ ASX-listed bank with strong community presence
- ✓ Government deposit guarantee up to $250,000
- ✓ Branch network across regional and metro Australia
- ✓ No establishment or management fees
Cons
- ✗ Short-term rates (3m: 2.75%, 6m: 3.00%) very low vs market
- ✗ 24-month rate (4.50%) is lower than the 12-month rate
- ✗ 12m rate below Judo (5.35%), AMP (5.40%), ING/Suncorp (5.30%)
- ✗ Unusual rate curve — check carefully before choosing term
How It Compares
For short terms (3 or 6 months), ING (4.75% and 5.05%) significantly outperforms Bendigo. Consider whether the 12-month term is the right fit before investing.
- AMP Bank Term Deposit (GO)5.40% (12 months) — highest 12m rate
- Judo Bank Personal Term Deposit5.35% (12 months) — $1k min
- ING Term Deposit5.30% (12 months) — also best short-term rates
- Suncorp Bank Term Deposit5.30% (12 months) — $5k min
- NAB Term Deposit5.25% (12 months)
- CommBank Term Deposit5.25% (12 months)
- BOQ Term Deposit5.10% (12 months)
- Westpac Term Deposit5.15% (12 months)
- Bendigo Bank Term DepositReviewed here5.10% (12 months)
Related guides
Information verified 24 June 2026. Rates and offers subject to change. Confirm current rates on Bendigo Bank's website before investing. This is not financial advice.