Unity Bank Term Deposit Review (2026)
Rates and details verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
24-month rate
5.35%
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 5.35% 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 | 5.35% ★ best 2yr |
| 5 years | Not offered |
Rates as at 18 May 2026. Interest paid at maturity. Check Unity Bank's website for the latest.
Pros and Cons
Pros
- ✓ Best 24-month rate on this page (5.35%)
- ✓ 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 (5.40–5.45%)
- ✗ 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 5.35% 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 (5.45%) or AMP/Bank First (5.40%) offer slightly higher rates at that term.
How It Compares
- Judo Bank: 5.45% (12m)
- Bank First: 5.40% (12m), 5.15% (24m)
- Unity Bank: 5.30% (12m), 5.35% (24m) — best 2yr
- MyState Bank: 5.30% (12m), 5.15% (24m)
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 5.35% 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 18 May 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.