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Fixed Rate

City West Fixed Rate Saver

With our Fixed Rate Saver, you can put your money to work, safe in the knowledge of how much interest it’s going to earn you. Just choose the length of your term, deposit between $2,000 and $1,000,000 and prepare to earn interest at a fixed rate.

Choose how long you save for. You’ve got three deposit terms to choose from – 1, 2 or 3 years – and you can deposit any amount from $2,000 to $1,000,000
Get a great interest rate. Earn between 0.85% AER/gross and 1.10% AER/gross, depending on the term you choose
Reinvest your savings. Before the end of the term, we'll write to you to ask you if you want to withdraw your money, start a new Fixed Rate Saver or discuss your options
Interest paid directly into your account. We’ll pay your interest into the City West Union account you used to pay your initial deposit Know exactly what you'll get. Your interest rate remains fixed throughout the term, so you’ll know in advance exactly how much interest you'll earn
Close early if you need to. Provided the deposit is under $50,000, you can close the account early for a fee of 90 days’ interest. Do bear in mind that depending on when the withdrawal is made, you may get back less than you originally invested. If the deposit is $50,000 or over, you can't close your account or withdraw any money until the end of the deposit term

How it works

You choose a deposit term for your Fixed Rate Saver. Available terms are: - 1, 2 or 3 years
You can deposit anything from $2,000 to $1,000,000. The money is locked away in the savings account for the whole of the term.
The interest rate depends on the amount you deposit and the length of the term. As the rate is fixed in advance, you know exactly how much interest you will earn by the end of the term.
The interest is paid directly into your City West Union current or savings account - the same one you used to pay in your initial deposit


Rates

Term Deposit Interest rate
3 years $2,000+ 1.10% AER/Gross
2 years $2,000+ 1.00% AER/Gross
1 year $2,000+ 0.85% AER/Gross

estimated balance at the end of the term

Term Deposit Interest rate Balance at end of term
3 years $2,000+ 1.10% AER/Gross $2,066.00
2 years $2,000+ 1.00% AER/Gross $2,040.00
1 year $2,000++ 0.85% AER/Gross $2,017.00

Start your banking with City West Union