What is Bendigo Bank's best term deposit rate?

Bendigo Bank's best term deposit rate is 4.90% p.a. for 12 months. The minimum deposit is $5,000. Note that Bendigo's 24-month rate (4.50%) is significantly lower than the 12-month rate, and short-term rates (3 months: 2.75%, 6 months: 3.00%) are also below market.

Is Bendigo Bank a safe bank?

Yes. Bendigo and Adelaide Bank is an APRA-regulated Australian ADI listed on the ASX. It is one of Australia's largest customer-focused banks, also operating rural banking through Rural Bank. Deposits up to $250,000 are protected under the Government's Financial Claims Scheme.

Can I withdraw a Bendigo Bank term deposit early?

Yes, but early withdrawal is subject to Bendigo Bank's notice requirements and a penalty interest rate reduction. You should contact Bendigo Bank before your term ends to discuss your options.

Bendigo Bank Term Deposit Review (2026)

Rates and details verified 3 October 2026

Rates can change without notice. Last verified: 3 October 2026 (AEST). Please confirm details on the bank’s official page.

Best rate

4.90%

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 4.90% 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 (4.90%), 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 4.90% p.a. is competitive with BOQ and Westpac (both also 5.30%). 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	4.90%	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

✓ 4.90% 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 (5.45%), 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 Deposit
5.45% (12 months) — $1k min
ING Term Deposit
5.30% (12 months) — also best short-term rates
Suncorp Bank Term Deposit
5.40% (12 months) — $5k min
NAB Term Deposit
5.30% (12 months)
CommBank Term Deposit
5.30% (12 months)
BOQ Term Deposit
5.30% (12 months)
Westpac Term Deposit
5.20% (12 months)
Bendigo Bank Term DepositReviewed here
4.90% (12 months)

→ Compare all term deposits

Related guides

View Bendigo Bank Term Deposit →

Information verified 3 October 2026. Rates and offers subject to change. Confirm current rates on Bendigo Bank's website before investing. This is not financial advice.