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Thread: Has anyone tried Arab Bank for online savings term deposit accounts? Best 1 year term deposit!!

  1. #1
    Senior Member DealDude's Avatar
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    Has anyone tried Arab Bank for online savings term deposit accounts? Best 1 year term deposit!!

    Has anyone on here tried the Arab Bank savings accounts? They often top the charts for best term deposit interest rates across many terms. They've won awards from Money Magazine and 5 star CANSTAR CANNEX rankings on a regular basis: Award Wins - Arab Bank Australia

    It says fee free internet banking which is all I need and will be helpful. I'm only after 1 year fixed term savings account and the Arab Bank offer the best interest rate at the moment 3.85% compare to next best at 3.81% which is from UBank. However UBank offer a better rate if you roll over your savings, but will they still offer it 1 year from now? Currently 3.91% after 1 year.

    Fixed Term Deposit - Arab Bank Australia


    Transaction and Investment Accounts>
    Fixed Term Deposit

    Your best choice in short and long term investment.

    • Highly competitive interest rates paid
    • Interest calculated daily
    • Terms available from one month to five years
    • Deposits can be made in Australian Dollars and other selected currencies
    • Automatic rollover available
    • Minimum Opening Deposit A$1
    • Interest is paid at maturity or opt for yearly interest payments if term is 2 years or more
    • Choice of interest payments credited to a nominated transaction account, collected by cash/bank cheque from your branch or compounded to your term deposit.
    • Term Deposit certificate to watch your savings grow
    • Fee free Internet Banking transactions*
    • Government Guranteed

    View current rates
    iconApply Online »
    * Fee free Internet Banking transactions are all personal Internet Banking transfers between your linked accounts, Transfer to Anyone and bill payments via BPAY®.

    ® Registered to BPAY Pty Ltd ABN 69 079 137 518




    Arab Bank Best Term Interest Rates for fixed terms, from 1 year you only need $1+ to get the best interest rates, less than 1 year you need $2000+:
    Deposit Rates: Fixed Term Deposit - Arab Bank Australia


    Deposit Rates: Fixed Term Deposit

    Effective Date: 14 April 2014

    Term (mths) $0
    -
    $1,999
    $2,000
    -
    $4,999
    $5,000
    -
    $9,999
    $10,000
    -
    $49,999
    $50,000
    -
    $99,999
    $100,000
    -
    $499,999
    1 0.25 2.75 2.75 2.75 2.75 2.75
    2 0.80 3.30 3.30 3.30 3.30 3.30
    3 0.95 3.65 3.65 3.65 3.65 3.65
    4 1.20 3.65 3.65 3.65 3.65 3.65
    5 1.60 3.65 3.65 3.65 3.65 3.65
    6 1.65 3.70 3.70 3.70 3.70 3.70
    9 1.75 3.80 3.80 3.80 3.80 3.80
    12 3.85 3.85 3.85 3.85 3.85 3.85
    24 4.00 4.00 4.00 4.00 4.00 4.00
    36 4.15 4.15 4.15 4.15 4.15 4.15
    48 4.25 4.25 4.25 4.25 4.25 4.25
    60 4.40 4.40 4.40 4.40 4.40 4.40
    Interest is accrued daily on the total daily deposit balances, and will be paid on the maturity date of the deposit if the term deposit is less than two years. Customers with deposits of two years or more will have their interest paid annually.
    Note:


    • All rates are in Australian Dollars unless otherwise stated.
    • Rates subject to change without notice.

    Whilst every effort is taken to ensure that rates are up to date, Arab Bank Australia takes no responsibility for errors herein.
    All interest rates are % per annum.



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  2. #2
    Senior Member DealDude's Avatar
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    They also offer a good rate for instant access online savings with 3.2% and no extra bonus that expires after a few months:

    Personal Online Savings Account - Arab Bank Australia

    Personal Online Savings Account

    An online savings account that provides a high rate of return, and all the convenience of a regular transaction account
    This is the perfect savings account for those who prefer to transact online and earn a high rate of interest, but also wish to access their funds through other means, such as through a branch or via ATM or EFTPOS. It is an account that you do not have to link to another account, nor do you have to wait for your funds to be transferred from another account, before you can access your money.
    For the serious saver, an online savings account is ideal for encouraging savings, and managing your money in one place knowing you have access to your money whenever you need it.

    • Awarded a Five Star CANSTAR Rating in the 'Deposit Account' star ratings in 2013
    • High rate of interest paid on balances as low as $1
    • No minimum balance
    • Funds available 24 hours a day, 7 days a week through internet banking, ATM and EFTPOS anywhere in Australia
    • Access funds at over 29 million outlets worldwide with a Visa Debit payWave Card
    • Access funds over the counter at any of our branches, via direct debit and make periodical payments
    • Salary, dividends or other income can be directly credited to the account
    • Interest calculated daily, and paid monthly
    • Unlimited fee free internet transfers
    • No monthly account keeping fees
    • Check your balance online at any time
    • Receive regular statements
    • Unlimited fee free ATM transactions per month at any Arab Bank Australia, Westpac, St George Bank, Bank of Melbourne and BankSA ATM in Australia
    • Government Guaranteed

    View current rates



    Deposit Rates: Fixed Term Deposit

    Effective Date: 14 April 2014

    Term (mths) $0
    -
    $1,999
    $2,000
    -
    $4,999
    $5,000
    -
    $9,999
    $10,000
    -
    $49,999
    $50,000
    -
    $99,999
    $100,000
    -
    $499,999
    1 0.25 2.75 2.75 2.75 2.75 2.75
    2 0.80 3.30 3.30 3.30 3.30 3.30
    3 0.95 3.65 3.65 3.65 3.65 3.65
    4 1.20 3.65 3.65 3.65 3.65 3.65
    5 1.60 3.65 3.65 3.65 3.65 3.65
    6 1.65 3.70 3.70 3.70 3.70 3.70
    9 1.75 3.80 3.80 3.80 3.80 3.80
    12 3.85 3.85 3.85 3.85 3.85 3.85
    24 4.00 4.00 4.00 4.00 4.00 4.00
    36 4.15 4.15 4.15 4.15 4.15 4.15
    48 4.25 4.25 4.25 4.25 4.25 4.25
    60 4.40 4.40 4.40 4.40 4.40 4.40
    Interest is accrued daily on the total daily deposit balances, and will be paid on the maturity date of the deposit if the term deposit is less than two years. Customers with deposits of two years or more will have their interest paid annually.
    Note:

    • All rates are in Australian Dollars unless otherwise stated.
    • Rates subject to change without notice.

    Whilst every effort is taken to ensure that rates are up to date, Arab Bank Australia takes no responsibility for errors herein.
    All interest rates are % per annum.




  3. #3
    Senior Member DealDude's Avatar
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    They've got a few branches around Sydney and I think only 2 others which are in in Victoria:
    Suite 1, Ground Floor 51-57 Pitt Street, Sydney, NSW 2000 0.33km BSB: 917-110 MORE >
    206 Beamish Street, Campsie, NSW 2194 10.83km BSB: 917-114 MORE >
    506 Princes Highway, Rockdale, NSW 2216 11.58km BSB: 917-115 MORE >
    19 Auburn Rd, Auburn, NSW 2144 16.2km BSB: 917-116 MORE >
    Cnr Restwell St and South Terrace, Bankstown, NSW 2200 16.93km BSB: 917-111 MORE >
    74 Macquarie Street, Parramatta, NSW 2150 19.48km BSB: 917-113 MORE >
    Shop T205 Westmead Hospital Cnr Hawkesbury and Darcy Roads, Westmead, NSW 2145 21.27km BSB: 917-118 MORE >
    Shop 2 228-234 Lonsdale Street, Dandenong, VIC 3175 707.67km BSB: 917-314 MORE >
    492 Sydney Road, Coburg, VIC 3058 708.57km BSB: 917-310 MORE >
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  4. #4
    Gav
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    Sorry Dealdude, I haven't tried them they do often come up with the top interest rates on the best term deposits on here:

    Compare the best term deposit interest rates | Money | Saver Scene Australia

    If you do decide to open an account with them can you let us know how it goes and how easy it is to operate?


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