Has anyone been with Bank of Melb for a fixed term before? I want to open one, and out of the banks that offer fixed terms to under 18s, BoM seem to have the highest interest rates. But I’ve never opened a fixed term account before, so opinions appreciated
Edit: I just realised I’m using the wrong terminology. I mean a fixed term deposit, not a loan
Thanks. Aus Unity has a min deposit that’s a little bit high for me at the moment. BoM is 4.8%, but 4.9 if you join and manage online. Honestly I’m not really in it for the interest as I won’t deposit enough for it to really be worth anything. I’m mostly after a TD as a sort of forced savings program I guess. Having to give 31 days notice to withdraw anything is more than long enough to curb any impulse purchases
I’d sooner chop my balls off than go with BoM for ANY product ever again. Ask me how they fucked up so bad we almost missed settlement then sent comms speaking about us as customer as if we pure fucking garbage.
Has anyone been with Bank of Melb for a fixed term before? I want to open one, and out of the banks that offer fixed terms to under 18s, BoM seem to have the highest interest rates. But I’ve never opened a fixed term account before, so opinions appreciated
Edit: I just realised I’m using the wrong terminology. I mean a fixed term deposit, not a loan
I’ve got a regular savings acc with Aus Unity for 5.1%. BoM looked to be 4.8% but I didn’t check their youth options.
Thanks. Aus Unity has a min deposit that’s a little bit high for me at the moment. BoM is 4.8%, but 4.9 if you join and manage online. Honestly I’m not really in it for the interest as I won’t deposit enough for it to really be worth anything. I’m mostly after a TD as a sort of forced savings program I guess. Having to give 31 days notice to withdraw anything is more than long enough to curb any impulse purchases
No min deposit that I can see. Looks like 5.2% on 0-$50k.
https://www.australianunity.com.au/banking/savings-accounts/freedom-saver
But yeah, if you want the help with impulse control that’s a different issue and ~0.2% is well worth it.
Ah. I was looking at their term deposits, they do have a 5k min. I’d rather not be able to touch it. But thanks again for the suggestion!
I’d sooner chop my balls off than go with BoM for ANY product ever again. Ask me how they fucked up so bad we almost missed settlement then sent comms speaking about us as customer as if we pure fucking garbage.