A Fixed Deposit account is less liquid than a savings account, meaning you must invest your money for a specific length of time. The longer the duration and the higher the investment amount, the greater the interest rate. If you withdraw your money early, you pay a penalty.

Notes on Fixed Deposits

  • Certain Share Holding Conditions Apply for Fixed Deposit
  • Qualification Interest is credited quarterly OR on the end of the Fixed Deposit
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Fixed Deposit Rates

Duration Annual rate Deposit
 One Year Term 0.75% Up to $250,000
0.75% More than $250,000 and up to $500,000
1.00% More than $500,000 and up to $1,000,000
1.25% More than $1,000,000
Three Years Term 1.20% Up to $250,000
1.40% More than $250,000 and up to $500,000
1.60% More than $500,000 and up to $1,000,000
2.00% More than $1,000,000
Five Years Term 1.80% Up to $250,000
2.05% More than $250,000 and up to $500,000
2.25% More than $500,000 and up to $1,000,000
2.50% More than $1,000,000
Ten Years Term 2.50% Up to $250,000
2.75% More than $250,000 and up to $500,000
3.00% More than $500,000 and up to $1,000,000
3.20% More than $1,000,000
All rates are subject to change without notice.

Your life savings are protected

Should a member die, his/her shareholdings will be insured as follows:
1-69 years$150,000.00
70-79 years$75,000.00
80 years and over$37,500.00

Attaining your financial goals

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Make saving simple

Setting up a savings plan is quick, easy and can help you reach your goals faster. No matter what you’re saving for – a holiday, a car, or a home loan deposit, or something else – TECU gives you flexibility and control over your savings plan.

You can set up a scheduled transfer from your bank account or salary to your TECU share account for whatever time, frequency and amount suits you best – be it weekly, fortnightly or monthly, for any amount.

Start saving effectively

  • Step one of any savings plan is to create a budget. It shows you how much you earn, how much you spend and how much you have left over each month.
  • Once you have a budget in place you then need to set a realistic savings goal and get into the habit of saving money each month.
  • Finally, talk to a Financial Planner. Our specialists can help you develop a budget, show you how to save, assist with insurance and investments and offer advice on how to achieve your goals.
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