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Sit back and watch your business savings grow

Running a business comes with enough daily decisions. Why not make your business investments one less thing to worry about?

With a Business Term Deposit, you can lock in a competitive fixed interest rate, sit back, and watch your savings grow over time. No market fluctuations, no surprises – just a steady, reliable return.

Whether you’re planning for future growth or simply making the most of surplus funds, a Business Term Deposit gives you the peace of mind to focus on what you do best: running your business.

You can start your investment with terms as short as one month and investments as low as $5,000.

Contact Us To Start
 

Enjoy the benefits of our Business Term Deposits

Flexible terms

Choose the term that best aligns with your objectives, from 1 to 24 months with a minimum investment of $5,000.

Flexible terms

Interest payment options

For terms 6 months or greater you may select to have interest paid monthly into a separate savings or transaction account.

Interest payment options

Deposit guaranteed

Your investments are secured by the Australian Government’s Financial Claims Scheme up to $250k, just as they are with other regulated financial institution.

Deposit guaranteed

$0 monthly fees

Make the most out of your investment with no application or ongoing fees. Combined account balances across all business products cannot exceed $2 Million.

$0 monthly fees

Grace period

Take advantage of a 7-day grace period when your Business Term Deposit reaches maturity to make informed decisions.

Grace period

Maturity reminder

Set and forget. We will let you know when your term is due to expire and reach out to discuss the next steps before your Business Term Deposit reaches maturity.

Maturity reminder

Talk to real people

Whether you need to ask a question or solve a problem, we are here for you. Visit a local Northern Rivers Financial Service Centre, give us a call or message us via our app.

Talk to real people

Early Withdrawal

Access your money before Term Deposit maturity by providing a 31-days’ notice. Subject to early redemption administration fee.

Early Withdrawal

Select the best Business Term Deposit for your needs.

We offer a range of business terms deposits from 1 to 24 months to help you find the perfect match for your investment strategies. Whether you are looking for a short-term or long-term commitment, our business term deposits have you covered.

3-months
Term Deposit

4.15
%
p.a #
Apply Now

6-months
Term Deposit

4.10
%
p.a #
Apply Now

9-months
Term Deposit

3.95
%
p.a #
Apply Now

12-months
Term Deposit

3.90
%
p.a #
Apply Now

#When investing $5k or more. Advertised rate subject to change without notice. Eligibility criteria, fees and charges, terms and conditions apply.

All Terms & Rates Fees & Charges

Applying for a Business Term Deposits

To open a Business Term Deposit, simply give us a call or come into a Financial Service Centre and our team will help you complete the process. To get prepared, here is some information on types of eligible businesses and some common application requirements.

Contact Us to OpenIs this product right for me?
  • 1+ Eligibility Criteria

    + Eligibility Criteria

    To hold this product customers will need to satisfy eligibility criteria, including that the customer must:

    • Be a Business entity, Not for Profit Organisation, or Registered Trust (excluding Family Trusts).
    • Be registered in Australia and have an Australian residential address.

    Some types of Business entities are highlighted below for more information, select the following drop downs.

  • 2+ Sole Trader

    + Sole Trader

    A Sole Trader is a self-employed person who is an exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for losses.

    Types of Information and ID Required:

    • Business name & Australian Business Number (ABN).
    • Reliable and independent documentation, e.g driver licence, passport.
  • 3+ Partnership

    + Partnership

    A Partnership is an association of individuals or entities for the purpose of carrying on a business venture or business activity in common with a view to profit.

    Types of Information and ID Required:

    • Full name of the partnership trading name.
    • Registration Status.
    • ABN Number.
    • Reliable and independent documentation, e.g driver licence, passport.
  • 4+ Company

    + Company

    A Company is a separate legal entity capable of holding assets in its own name.

    Types of Information and ID Required:

    • Full Registered name of the Business.
    • ASIC Registration, including the companies ABN & ACN.
    • ABN search relating to the business.
    • Reliable and independent documentation, e.g. driver licence, passport.
  • + Important Information

    Products issued by Southern Cross Credit Union Ltd. ABN 82 087 650 682. AFSL 241000. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs. To decide if a product is right for you, please refer to the Summary of Accounts, Access Facilities and Transaction Limits. To help you better asses if these products are right for you please reach out to our team or read through our Target Market Determinations (TMD), designed to help you make an informed decision that is consistent with your objectives, financial situations and needs. Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.

    #Available to new business. Minimum deposit of $5k. Advertised rate subject to change without notice. Eligibility criteria, fees and charges, terms and conditions apply.

    Term Deposit interest will be paid annually for terms greater than 12 months. For terms 6 months or greater you may select to have interest paid monthly into a separate savings or transaction account. If you choose to withdraw from your term deposit before the end of its term, you’ll need to give us 31 days’ notice and pay a $30 administration fee for the early redemption. It’s also important to note that this can affect the interest we pay you, with an early redemption interest rate of 0.10%p.a. applicable. When your term ends, you have a ‘Grace Period’ of seven calendar days to manage your term deposit, otherwise we will reinvest your balance for you for the same term, at the applicable advertised interest rate at the time. Eligible Lifestyle Plus customers will receive an additional 0.10%p.a. on carded rates for terms 3 months or greater. Combined account balances across all products cannot exceed $2 Million.

Business Term Deposit

Maturity Options

Renewal

Proactively renew your Business Term Deposits to lock in a new rate for the same term or a complete new one. You can also withdraw your funds partially or top it up with additional funds.

Grace Period

Upon maturity, we can hold your Business Term Deposit for a period of seven calendar days while you decide on the next steps, whether you wish to reinvest or withdraw your funds.

Full withdrawal

Once your Business Term Deposits reaches maturity, you can withdraw all your funds plus the interest earned and transfer it to your existing SCCU account, or an external account.

We do the work

If your Business Term Deposit reaches maturity and no action was taken within the Grace Period, your balance will be automatically reinvested for the same term at the prevailing advertised interest rate.

Stay Ahead

We will let you know when your term is due to expire, and our team will reach out to you leading up to the maturity date of your Business Term Deposit to discuss your next steps. We also encourage you to consider these options and proactively contact us when your Term Deposit reaches maturity.

Predict your Earnings with

our Business Term Deposit Calculator

Plan your financial future with confidence using our Business Term Deposit Calculator.
Input different deposit amounts and term lengths to visualise potential returns on your investments.



Invest with a credit union who puts people and conversations at the core and join our SCCU community along with thousands of customers who love our banking approach.

Business Term Deposit FAQs

  • What Are Business Term Deposits?

    A Business Term Deposit is a secure investment account that helps you earn a competitive, fixed interest rate over a set period. It’s a set-and-forget way to grow your business savings as your funds stay locked in at the agreed rate until maturity. When the term ends, you can withdraw your savings with interest, reinvest, or add more funds to keep growing your investment.

  • How is the interest calculated and paid for my Business Term Deposit?

    Interest is calculated daily, and you can choose to have it paid monthly, annually or at maturity depending on the options available for the term you choose.

    Terms under 6 months will have interest paid at maturity.
    For terms 6 months or greater up to 12 months, you have the option to have interest paid monthly into a separate SCCU or external savings or transaction account; or at maturity.

    While for terms over 12 months, you have the option to have interest paid monthly into a separate SCCU or external savings or transaction account; or once at 12 months for tax purposes and the remainder at maturity. Having all interest paid at maturity is not available for terms greater than 12 months.

  • Can I compound my interest if I get paid monthly interest?

    No, you cannot compound the interest into your existing Business Term Deposit if you choose to have interest paid monthly.

    Compound interest happens when the interest you have earnt earns interest on itself. However, the monthly interest needs to be paid to a separate SCCU or external savings or transaction account. It cannot be paid into the existing Business Term Deposit account, and therefore it will not compound.

    When your Business Term Deposit expires, you can add the interest you have earnt to your initial investment and reinvest the entire amount.

  • What is the difference between a Business Term Deposit and a business savings account?

    Business Term Deposits are a type of standalone fixed-term investment account. The interest rate is guaranteed and fixed to the term you agree to. A business savings account on the other hand, has a variable interest rate, which fluctuates.

    A Business Term Deposit also does not require to be linked to other accounts, different from a business savings account that must be linked to our Business Plus transaction account to be managed.

  • Who can open a Business Term Deposit?

    Business Term Deposits are available to Business entities, Not for Profit Organisations, or a Registered Trust (excluding Family Trusts).

    Applicants for personal and business Term Deposit must be an Australian citizen or permanent resident, hold an Australian address, phone number and bank account.

    View our Target Market Determination (TMD) to confirm if this is the right product for you.

  • Can I open a Business Term Deposit in someone else's name?

    No, you cannot open a Business Term Deposit in someone else’s name. However if you are co-owner of a company or business entity you can have multiple account holders.

     

  • Can I access/withdraw my money early?

    Yes, you can. Or you could partially withdraw throughout the term. However, Term Deposits are designed to be held to maturity.

    Early withdrawal, whether partial or full, will incur an administration fee and the funds you withdraw will only receive a reduced interest rate applicable for early redemption, bringing down your return. See the disclaimer for details.

    If doing a partial withdrawal, the remainder funds will continue to earn the same interest rate you initially locked into until maturity.

    While we encourage you to keep your funds invested for the full term, we understand that circumstances may change. Should you need to do withdraw your funds early, you can do so by providing us with a 31-days’ notice by calling us at 1300 360 744 or visiting a Financial Service Centre closer to you.

    View the disclaimers in this page and Fees & Charges for all details.

  • Can I add funds throughout my Business Term Deposit?

    No, you cannot add funds during the term. Alternatively, you can open multiple term deposits, so your money is spread across different maturities. Top ups are only possible upon renewal for another term once your Business Term Deposit reaches maturity.

    Alternatively, you could consider opening our Business Star Saver account where you could add funds and be rewarded with a bonus rate if meeting the requirements. Visit our Business Star Saver page to learn more.

  • How will I know my Business Term Deposit is coming to maturity?

    You will receive confirmation of the date when you open your Business Term Deposit, and we will notify you in advance of your pending maturity.

    Our team will also reach out to you leading up to the maturity date of your Business Term Deposit to discuss your next steps.

  • Is my Business Term Deposit protected by the Government?

    Our Business Term Deposits are guaranteed by the Australian Federal Government’s Financial Claims Scheme (FCS) of up to $250k, the same as they would be with other financial institutions.

    Under the Financial Claims Scheme (FCS), deposits are protected up to a limit of $250,000 for each account holder at each bank, building society and credit union (also known as authorised deposit-taking institutions or ADIs) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

    For more information, visit https://www.apra.gov.au/financial-claims-scheme-0

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Shane provided amazing customer service from start to finish. He was extremely knowledgeable, respectful, and attended to every detail of the process with thoroughness and professionalism. This kind of customer service is almost unheard of these days, so it was an absolute delight to work with Shane. The interest rate on my company car was fantastic and the terms of the loan were both fair and reasonable. I 100% recommend Shane and Southern Cross Credit Union for obtaining financing for a vehicle and wouldn't use anyone else for my business going forward. Thanks to Shane and his team!
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Previously we were not advocates of the banking industry, we were strong non-believers after some disappointing & negative experiences. Many locals referred us to Southern Cross Credit Union (SCCU) and after much encouragement we moved our banking business to the SCCU Tweed City Branch. We are now strong believers as we have been in the extremely efficient, effective and supportive hands of SCCU loans manager Stephen Distant. What an asset! Stephen has totally reframed our banking experience, we are genuinely impressed with his ability to do this by managing our loans. Even after many years as a SCCU client, Stephen's dedication with helping us has not died down, his loyalty remains nothing short of inspiring and his willingness to provide outstanding customer service is something we are in awe of. Moving our accounts to SCCU was a great decision, thanks to Stephen Distant.
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Working with Steve has been an absolute pleasure! He is very professional yet is able to bring a personal touch to the banking and loan process. We always feel like we are kept up to date with requirements and processes and Steve is always willing to explain everything in a user-friendly yet professional manner. He has been amazing to work with for our financial needs and would highly recommend his services to friends, family, and colleagues.
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