Newcastle Permanent Term Deposit Review (2026)
Newcastle Permanent 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.
12-month rate
5.30%
p.a. at maturity
6-month rate
5.00%
p.a. at maturity
Min deposit
$1,000
accessible minimum
About Newcastle Permanent
Newcastle Permanent is one of Australia's largest customer-owned mutual banks, based in Newcastle, NSW. In 2023, it merged with Greater Bank to form the Greater Bank Group — one of the largest mutual banking groups in Australia. Both brands continue to operate independently.
Newcastle Permanent is regulated by APRA and deposits up to $250,000 are protected under the Financial Claims Scheme (FCS). It is particularly well-known in NSW and Queensland, though products are available to Australian residents nationwide. Note that Greater Bank also appears on our Cash Bonuses page with a mortgage refinance offer.
Rates by Term
| Term | Rate (p.a.) |
|---|---|
| 3 months | 4.50% |
| 6 months | 5.00% |
| 12 months | 5.30% |
| 24 months | 4.25% |
| 5 years | Not offered |
Rates as at 3 October 2026. Interest paid at maturity. Check Newcastle Permanent's website for the latest.
Pros and Cons
Pros
- ✓ Well-established mutual bank with long track record
- ✓ $1,000 minimum — accessible
- ✓ Strong 6-month rate (5.00%)
- ✓ Part of Greater Bank Group — large mutual
- ✓ FCS protected up to $250,000
Cons
- ✗ 12-month rate (5.30%) competitive but not market-leading
- ✗ 24-month rate (4.25%) drops sharply — not competitive for longer terms
- ✗ No 5-year term
How It Compares
- Judo Bank Personal Term Deposit5.45% (12 months) — $1,000 min
- Newcastle Permanent Term DepositReviewed here5.30% (12 months) — $1,000 min
- Unity Bank Term Deposit5.55% (24 months) — also 5.30% (12m)
- MyState Bank Online Term Deposit5.25% (12 months) — $5,000 min
Related guides
FAQs
What is the Newcastle Permanent 12-month rate?
5.30% p.a. at maturity, with a $1,000 minimum deposit.
Is Newcastle Permanent part of Greater Bank?
Yes — the two merged in 2023 to form the Greater Bank Group, one of Australia's largest mutual banking groups. Both brands still operate separately.
Is my deposit protected?
Yes — Newcastle Permanent is APRA-regulated. Deposits up to $250,000 per account holder are protected under the Financial Claims Scheme.
Information verified 3 October 2026. Rates subject to change. Confirm current rates, terms, and eligibility on Newcastle Permanent's website before investing. This is not financial advice. Deposits up to $250,000 protected under the Financial Claims Scheme.