First Option Bank term deposit rates
6 terms published on 10 Oct 2026, best 5.30% for 13 months, from First Option Bank’s own Consumer Data Right feed.
Today’s rates >_Interest on a deposit →First Option Bank website →
First Option Bank at a glance
Today’s rates6 terms · read 10 Oct 2026
| Term | Rate | Rank | vs median | vs best | Last change | This rate | Min. deposit | Product |
|---|---|---|---|---|---|---|---|---|
| 5mo | 4.85% | #9 of 50 | +0.55 | −0.35 | — | same on every day read since 10 Sep 2026 | $1,000 | 3 Month Fixed Term |
| 8mo | 5.10% | #10 of 39 | +0.70 | −0.15 | — | same on every day read since 10 Sep 2026 | $1,000 | 6 Month Fixed Term |
| 11mo | 5.20% | #8 of 45 | +1.20 | −0.25 | — | same on every day read since 10 Sep 2026 | $1,000 | 9 Month Fixed Term |
| 1yr | 5.15% | joint #55 of 75 | −0.10 | −0.45 | — | same on every day read since 10 Sep 2026 | $25,000 | 12 Month Regular Income Term Deposit |
| 13mo | 5.30% | #7 of 18 | +0.45 | −0.20 | — | same on every day read since 10 Sep 2026 | $1,000 | 12 MONTH FIXED TERM |
| 2yr | 4.75% | #33 of 67 | +0.05 | −0.80 | — | same on every day read since 10 Sep 2026 | $1,000 | 24 MONTH FIXED TERM |
“Rank”, “vs median” and “vs best” compare First Option Bank with every bank that publishes the same term today. “This rate” is the first day our daily read showed the current rate — a rate that changed between two reads is dated to the first read that showed it.
What First Option Bank publishes about its products12 term deposit products · as published 10 Oct 2026
| Product | Interest paid | Min. deposit | Max. deposit | Fixed-rate terms | Links |
|---|---|---|---|---|---|
| 12 MONTH FIXED TERM | at maturity | $1,000 | $2,000,000 | 1 | product page · terms · fees · eligibility |
| 24 MONTH FIXED TERM | yearly | $1,000 | $2,000,000 | 1 | product page · terms · fees · eligibility |
| 3 Month Fixed Term | at maturity | $1,000 | $2,000,000 | 1 | product page · terms · fees · eligibility |
| 9 Month Fixed Term | at maturity | $1,000 | $2,000,000 | 1 | product page · terms · fees · eligibility |
| 6 Month Fixed Term | at maturity | $1,000 | $2,000,000 | 1 | product page · terms · fees · eligibility |
| REGULAR INCOME 24MTH | monthly | $25,000 | $9,999,999 | 1 | product page · terms · fees · eligibility |
| 12 Month Regular Income Term Deposit | monthly | $25,000 | $9,999,999 | 1 | product page · terms · fees · eligibility |
| 6 Month Regular Income Term Deposit | monthly | $25,000 | $500,000 | 1 | product page · terms · fees · eligibility |
12 MONTH FIXED TERM: eligibility, conditions and features
- Eligibility
- residency: AUSTRALIAN RESIDENTS; individuals
- Conditions
- min balance 1000.00; max balance 2000000.00
- Features
- digital banking
- The bank’s description
- Interest Paid at Maturity
- Interest calculated
- daily
24 MONTH FIXED TERM: eligibility, conditions and features
- Eligibility
- individuals: Individual and Joint Accounts; residency: Australian Residents
- Conditions
- min balance 1000.00; max balance 2000000.00
- The bank’s description
- Interest paid every 12 months
- Interest calculated
- daily
3 Month Fixed Term: eligibility, conditions and features
- Eligibility
- individuals; residency: Australian Residents
- Conditions
- min balance 1000.00; min balance 2000000.00
- Features
- notifications: SMS and Email Alerts
- The bank’s description
- 3 MONTH FIXED TERM
- Interest calculated
- daily
9 Month Fixed Term: eligibility, conditions and features
- Eligibility
- individuals: Individual and Joint Accounts; residency: Australian Residents
- Conditions
- min balance 1000.00; max balance 2000000.00
- Features
- digital banking
- The bank’s description
- Interest Paid at Maturity
- Interest calculated
- daily
6 Month Fixed Term: eligibility, conditions and features
- Eligibility
- individuals: Individual & Joint Accounts; residency: Australian Residents
- Conditions
- min balance 1000.00; max balance 2000000.00
- Features
- digital banking
- The bank’s description
- Interest Paid at Maturity
- Interest calculated
- daily
REGULAR INCOME 24MTH: eligibility, conditions and features
- Eligibility
- individuals: Individual and Joint Accounts; residency: Australian Residents
- Conditions
- min balance 25000.00; max balance 2000000.00
- The bank’s description
- Interest Paid Monthly
- Interest calculated
- daily
12 Month Regular Income Term Deposit: eligibility, conditions and features
- Eligibility
- individuals: Individual and Joint Accounts; residency: Australian Residents
- Conditions
- min balance 25000.00; max balance 2000000.00
- Features
- digital banking
- The bank’s description
- Interest paid monthly
- Interest calculated
- daily
6 Month Regular Income Term Deposit: eligibility, conditions and features
- Eligibility
- individuals: Individual and Joint Accounts; residency: Australian Residents
- Conditions
- min balance 25000.00; max balance 2000000.00
- Features
- digital banking; notifications
- The bank’s description
- Interest Paid Monthly
- Interest calculated
- daily
Also published, not ranked here: 12 MTH FIXED TERM BUSINESS business (product page); 6 Month Fixed Term Business Term Deposit business (product page); 24 Month Business Fixed Term Deposit business (product page); 3 MTH FIXED TERM BUS business (product page).
Every line is the bank’s own statement in its feed, read that day — nothing is inferred. Early-withdrawal terms appear under conditions or features when a bank states them.
Rate historyevery sweep day since 26 Aug 2026 · 46 days · 6 terms
8mo 5.10% today
26 Aug 202610 Oct 2026
11mo 5.20% today
26 Aug 202610 Oct 2026
1yr 5.15% today
26 Aug 202610 Oct 2026
13mo 5.30% today
26 Aug 202610 Oct 2026
2yr 4.75% today
26 Aug 202610 Oct 2026
All 6 terms — the other 1
5mo 4.85% today
26 Aug 202610 Oct 2026
Each line is the best retail rate First Option Bank published for that term on each day we read its feed. A break in the line is a day we read no rate for that term — the feed could not be read, or the bank did not publish that term that day — never a rate carried forward.
Where First Option Bank sitsagainst the 77 banks ranked today
1yr: 54 banks ahead
- Community First Bank 5.60%
- Dnister Bank 5.55%
- Heartland Bank 5.55%
- Unity Bank 5.50%
- Alex Bank 5.50%
- Bank Australia 5.50%
- and 48 more on the leaderboard
Customer-owned banks52 banks · top 10 by best rate
| Bank | Best | Term | 6 m | 12 m | Market rank |
|---|---|---|---|---|---|
 Community First Bank | 5.60% | 1yr | 5.10% | 5.60% | #1 |
 Dnister Bank | 5.55% | 1yr | 5.30% | 5.55% | #2 |
| Unity Bank | 5.55% | 2yr | 5.35% | 5.50% | #2 |
 Bank Australia | 5.50% | 1yr | 5.30% | 5.50% | #5 |
 Bank First | 5.50% | 1yr | 5.30% | 5.50% | #5 |
 Qudos Bank | 5.50% | 1yr | 5.30% | 5.50% | #5 |
 Great Southern Bank | 5.45% | 1yr | 4.55% | 5.45% | #11 |
 People First Bank | 5.45% | 7mo | 5.00% | 5.20% | #11 |
 Police Credit Union | 5.45% | 11mo | 5.00% | 5.25% | #11 |
 QBANK | 5.45% | 1yr | 5.30% | 5.45% | #11 |
| First Option Bank | 5.30% | 13mo | — | 5.15% | #31 |
Timeline0 rate changes since 10 Sep 2026 · ▲0 ▼0 · 1 event
| Date | Term | From → to | Δ |
|---|---|---|---|
| 30 Sep 2026 | RBA | RBA cash rate 4.60% — up 0.25 pointsReserve Bank decision effective 2026-09-30: cash rate target 4.60%, a rise of 0.25 percentage points. | |
Questions about these rates
What is First Option Bank’s best term deposit rate today?
On 10 Oct 2026, the best retail term deposit rate First Option Bank publishes in its Consumer Data Right feed is 5.30% for 13 months (12 MONTH FIXED TERM). That is joint #31 of the 77 Australian banks ranked by best rate today.
What is First Option Bank’s 12-month term deposit rate?
5.15% as read on 10 Oct 2026, 0.10 points below the market median of 5.25%, and joint #55 of the 75 banks publishing a 12-month rate. The market-best 12-month rate today is 5.60%.
What is the minimum deposit at First Option Bank?
The lowest minimum First Option Bank states in its feed is $1,000 (3 Month Fixed Term, 5-month). Check the product disclosure statement for balance tiers.
When did First Option Bank last change a term deposit rate?
We have not read a change to any of First Option Bank’s published retail term deposit rates since we first read its feed on 10 Sep 2026. Days on which we read no rate are not counted as unchanged.
Are deposits with First Option Bank guaranteed?
First Option Bank publishes its products under the Consumer Data Right as an Australian data holder. Under the Financial Claims Scheme, administered by APRA, protected Australian-dollar deposit accounts at an Australian-incorporated authorised deposit-taking institution (ADI) are covered up to $250,000 per account holder per ADI. Several brands can share one ADI licence, in which case the cap covers them together, so confirm which licence First Option Bank operates under before relying on the guarantee. Scheme facts checked against apra.gov.au (Financial Claims Scheme) on 15 Sep 2026 — the link is under “About First Option Bank” below; rates are as read on 10 Oct 2026.
About First Option Bank
- Type
- Customer-owned bank (mutual)
- Website
- firstoptionbank.com.au
- Consumer Data Right feed
- https://internetbanking.firstoption.com.au/OpenBanking
- Deposit guarantee
- Financial Claims Scheme, up to $250,000 per account holder per ADI — scheme details and covered institutions at APRA (checked 15 Sep 2026)
The rates on this page are the retail term deposit rates First Option Bank publishes in its own Consumer Data Right product feed, read once a day. Business, SMSF and staff-only products are left out. A product the bank publishes as “tailored” (pricing may be negotiated) is included only when the bank also states it is open to individuals, and is marked as tailored. A day on which we read no rate is a gap on this page — never an estimate.
Facts about the institution reviewed 15 Sep 2026. Rates read 10 Oct 2026.
Savings accountshighinterestsavingsaccounts.org
First Option Bank has no savings account on today’s board at highinterestsavingsaccounts.org, our sister site for at-call savings rates.
Please note: the savings figures on this page are estimates only and may not reflect the return you actually receive. Actual returns vary with tax, fees, the interest payment frequency and any change the bank makes to a rate before you open the account. Rates are the bank’s own published Consumer Data Right figures and may differ for particular balance tiers or online-only products. Always read the product disclosure statement, confirm the rate with the bank, and consider your own circumstances. Nothing here is financial advice or a recommendation. This site is published by Nutshell Media Pty Ltd, which is not affiliated with any bank, credit union or building society.