RACQ Bank offers rates ranging from 0.55% to 5.45% across its term deposit range. The strongest rates are at 12 months (5.45% p.a.) and 7 months (5.25% p.a.), with competitive shorter-term options at 3 months (4.9% p.a.). Rates drop significantly for terms beyond 12 months, settling at 3.3% p.a. for all terms from 2 to 5 years. Minimum deposit requirements are not specified.
Deposits with RACQ Bank are protected under the Financial Claims Scheme up to $250,000 per account holder per ADI.