Unity Bank Term Deposit Review (2026)
Unity Bank Term Deposit Review (2026)Rates and details verified 9 August 2026
Rates can change without notice. Last verified: 9 August 2026 (AEST). Please confirm details on the bank’s official page.
24-month rate
5.55%
p.a. — best 2yr on page
12-month rate
5.30%
p.a. at maturity
Min deposit
$1,000
accessible minimum
About Unity Bank
Unity Bank is an Australian customer-owned mutual bank. As a mutual, it is owned by its members and profits are reinvested into better rates and services rather than paid to external shareholders. It is regulated by APRA and deposits up to $250,000 are protected under the Financial Claims Scheme (FCS).
Unity Bank's standout feature is its 24-month rate of 5.55% p.a.— the highest 2-year term deposit rate on this comparison page. For savers who want to lock in a competitive rate for two years, Unity Bank offers better value than Bank First (5.15%) or MyState Bank (5.15%) at the same term.
Rates by Term
| Term | Rate (p.a.) |
|---|---|
| 3 months | 4.95% |
| 6 months | 5.15% |
| 12 months | 5.30% |
| 24 months | 5.55% ★ best 2yr |
| 5 years | Not offered |
Rates as at 9 August 2026. Interest paid at maturity. Check Unity Bank's website for the latest.
Pros and Cons
Pros
- ✓ Best 24-month rate on this page (5.55%)
- ✓ Competitive across all terms from 3m to 24m
- ✓ $1,000 minimum — accessible
- ✓ Customer-owned mutual
- ✓ FCS protected up to $250,000
Cons
- ✗ 12-month rate (5.30%) below Judo/AMP/Bank First (5.35–5.40%)
- ✗ No 5-year term
- ✗ Less well-known than major banks
Who Should Choose Unity Bank?
Unity Bank is the best choice on this page for savers who want to lock in a rate for two years. At 5.55% p.a. for 24 months, it outperforms Bank First (5.15%) and MyState Bank (5.15%) at the same term, and ties with Great Southern Bank's 5-year rate — but with the flexibility of a shorter commitment.
If you're comparing 12-month options, Judo Bank (5.35%) or AMP/Bank First (5.40%) offer slightly higher rates at that term.
How It Compares
- Bank First Term Deposit5.40% (12 months) — also 5.15% (24m)
- Judo Bank Personal Term Deposit5.35% (12 months)
- Unity Bank Term DepositReviewed here5.55% (24 months) — also 5.30% (12m) — best 2yr
- MyState Bank Online Term Deposit5.15% (12 months) — also 5.15% (24m)
Related guides
FAQs
What is the Unity Bank 12-month rate?
5.30% p.a. at maturity, with a $1,000 minimum deposit.
What is the best Unity Bank term deposit?
The 24-month term at 5.55% p.a. — the highest 2-year rate on this comparison page.
Is Unity Bank regulated?
Yes — Unity Bank is an APRA-regulated ADI. Deposits up to $250,000 per account holder are protected under the Financial Claims Scheme.
Information verified 9 August 2026. Rates subject to change. Confirm current rates, terms, and eligibility on Unity Bank's website before investing. This is not financial advice. Deposits up to $250,000 protected under the Financial Claims Scheme.