The Rural Bank ONE Term Deposit Account is an online deposit for personal applicants which pays competitive interest rates for a fixed term. It can only be opened and accessed online via www.ruralbank.com.au (either via the online application or the application form that can be printed from the website, completed by the customer and posted to Rural Bank)
Category: Term Deposits Last Updated October 23, 2024 Effective November 1, 2024
Product Features
OtherAdditional Information: Earn competitive rates of interest
OtherAdditional Information: Interest calculated daily, paid at maturity
OtherAdditional Information: Terms fixed for 3, 6, or 12 months
OtherAdditional Information: No monthly account keeping fees
OtherAdditional Information: 31 day withdrawal notice if need to access funds before its maturity date, early withdrawal may incur interest adjustment
Digital BankingAdditional Information: Requires internet banking
OtherAdditional Information: Six monthly statements
Digital BankingAdditional Information: Apply online only
OtherAdditional Information: Transfer funds to open, minimum balance $500
OtherAdditional Information: Maximum balance $2 million per customer (combined value of Rural Bank ONE Saver and/or Rural Bank ONE Term Deposit accounts (whether individual or joint) can not exceed $2,000,000 unless agreed to by Rural Bank)
Product Eligibility
OtherAdditional Information: Personal applicants only
OtherAdditional Information: Must be 12 years of age or over to have access to Internet and Phone Banking
Residency Status - Must Be An Australian Resident.
OtherAdditional Information: Every applicant must have access to Rural Bank Internet Banking
OtherAdditional Information: Customer must nominate a transaction account at an Australian Authorised Deposit-taking Institution (either Rural Bank or another Australian financial institution) for funds to be redeemed to (“nominated account”). Where a direct debit is used for the opening deposit that account becomes the “nominated account”
Bank Fees and Charges
Bank Cheque Fee (Payment), Amount: 10.00. Additional Information: Applies per bank cheque you request. Bank cheques are organised through the Commonwealth Bank of Australia or Bendigo Bank
Bank Cheque Repurchase Or Stop Fee (Event), Amount: 20.00. Additional Information: Applies per bank cheque you request to be repurchased or stopped
Real Time Electronic Or International Funds Transfer (Payment), Amount: 30.00. Additional Information: Applies the same day you request a transfer to an account at another financial institution in Australia, or an international funds transfer
Direct Debit Dishonour Fee (Payment), Amount: 10.00. Additional Information: Applies per unsuccessful direct debit attempt on your account due to insufficient funds
Copy Of A Cheque (Event), Amount: 20.00. Additional Information: Applies per cheque when you request a copy of a cheque deposited to your account
Real Time Electronic Or International Funds Trace (Event), Amount: 30.00. Additional Information: Applies per request. Note: The receiving bank may also impose a fee. The trace fee will be waived if the trace reveals an error by Rural Bank
Electronic Recall (Event), Amount: 15.00. Additional Information: Applies per attempt to recall an electronic transaction. The fee is charged even if the recall is unsuccessful
Audit Request (Event), Amount: 30.00. Additional Information: Applies per audit requested on an account
Transaction History Record (Event), Amount: 5.00. Additional Information: Applies per request per statement period for a transaction history print out on an account
Administration Fee (Event), Amount: 15.00. Additional Information: An administration fee of $15.00 per 1/4 hour applies for the supply of information, retrieval of a voucher or other documentation, or other special services you request
Dormant Account (Periodic), Amount: 20.00. Additional Information: Charged annually to accounts that have not had a customer initiated deposit or withdrawal for 3 years or more
Physical Security Token (issue And Replacement) (Event), Amount: 25.00. Additional Information: Key-ring sized token that improves the security of Internet Banking. Applies per token ordered
Electronic Trace (Event), Amount: 20.00. Additional Information: Applies when you have requested a trace on a Bpay® or Pay Anyone transaction that has been sent electronically to another financial institution. The trace fee will be waived if the trace reveals an error by Rural Bank
Staff Assisted Transfer Fee (Payment), Amount: 5.00. Additional Information: Applies per request to transfer money to an account held with another financial institution or a Rural Bank account in another name
Limitations & Restrictions (Constraints)
Max Balance of 2000000.00 Additional Information: The combined value of Rural Bank ONE Saver and/or Rural Bank ONE Term Deposit accounts (whether individual or joint) can not exceed $2,000,000 unless agreed to by Rural Bank