Simply open online from the comfort of your home or work, 24 hours a day, 7 days a week.
Term Deposit Features
- Minimum deposit $5,000
- Term deposit interest calculated daily and paid at term deposit maturity
- Terms available from 1 – 24 months
- Short term investment to medium term investment
- Deposits up to $250,000 per customer are guaranteed by the Australian Government
Applying for Term Deposits online
Before you apply for a Term Deposit online, you'll need:
- Your contact details, including a phone number and email address;
- Your Tax File Number or Exemption Code (this is optional, however, if you don't provide it, we are required by law to deduct withholding tax at the highest marginal tax rate);
- Your Driver's License, Passport or Medicare Card;
- Minimum $5,000 deposit; and
- Your MyState Customer Number (if applicable).
NOTE: When applying for an Term Deposit online MyState may require you to provide identification information in order to comply with regulatory requirements.
To apply for a joint account, both applicants need to complete their details separately.
Income Term Deposit
MyState’s Income Term Deposit allows you to receive a regular income from your investment at competitive investment interest rates. The Income Term Deposit account can also credit interest into your account at regular intervals giving you some welcome extra spending money!
Open your Term Deposit
You can open your Term Deposit online, call our Customer Care team, drop into your nearest MyState branch or make an appointment.