People First Bank term deposit rates
16 terms published on 10 Oct 2026, best 5.45% for 7 months, from People First Bank’s own Consumer Data Right feed. Registered as People First and Heritage Bank.
Today’s rates >_Interest on a deposit →People First Bank website →
People First Bank at a glance
Today’s rates16 terms · read 10 Oct 2026
| Term | Rate | Rank | vs median | vs best | Last change | This rate | Min. deposit | Product |
|---|---|---|---|---|---|---|---|---|
| 1mo | 2.25% | joint #7 of 33 | +0.75 | −1.85 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 2mo | 3.00% | #6 of 36 | +1.25 | −1.45 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 3mo | 4.00% | joint #48 of 68 | −0.55 | −1.25 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 4mo | 4.85% | #21 of 49 | +0.20 | −0.55 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 5mo | 4.00% | #28 of 50 | −0.30 | −1.20 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 6mo | 5.00% | joint #35 of 73 | median | −0.45 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 7mo | 5.45%market best | #1 of 43 | +0.50 | best | ▲ +0.10 23 Sep | in effect since 23 Sep 2026 | $1,000 | Term Deposit |
| 8mo | 4.50% | #18 of 39 | +0.10 | −0.75 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 9mo | 5.10% | joint #22 of 60 | +0.30 | −0.30 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 10mo | 4.50% | #18 of 40 | +0.50 | −0.85 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 11mo | 4.50% | #15 of 45 | +0.50 | −0.95 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 1yr | 5.20% | joint #44 of 75 | −0.05 | −0.40 | — | same on every day read since 10 Sep 2026 (29 of 31 days read) | $1,000 | Term Deposit |
| 2yr | 5.25% | joint #7 of 67 | +0.55 | −0.30 | ▲ +0.50 23 Sep | in effect since 23 Sep 2026 | $1,000 | Term Deposit |
| 3yr | 5.25% | #4 of 51 | +0.95 | −0.20 | ▲ +0.50 23 Sep | in effect since 23 Sep 2026 | $1,000 | Term Deposit |
| 4yr | 5.25% | joint #2 of 32 | +1.25 | −0.25 | ▲ +0.50 23 Sep | in effect since 23 Sep 2026 | $1,000 | Term Deposit |
| 5yr | 5.25% | #6 of 31 | +1.25 | −0.25 | ▲ +0.50 23 Sep | in effect since 23 Sep 2026 | $1,000 | Term Deposit |
“Rank”, “vs median” and “vs best” compare People First 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 People First Bank publishes about its products2 term deposit products · as published 10 Oct 2026
| Product | Interest paid | Min. deposit | Max. deposit | Fixed-rate terms | Links |
|---|---|---|---|---|---|
| Term Deposit | monthly (at maturity), every two months (at maturity), quarterly (at maturity), every 4 months (at maturity), every 5 months (at maturity), half-yearly (at maturity), every 7 months (at maturity), every 8 months (at maturity) | $1,000 | no upper limit | 16 | product page · terms · fees · eligibility |
Term Deposit: eligibility, conditions and features
- Conditions
- opening balance 1000.00; min balance 1000.00
- Features
- other — Government Deposit Guarantee; digital banking: Internet, Mobile and Phone banking available; other — SMS Services; loyalty program: Heritage Credits is Heritage's loyalty program; other: Early Withdrawal — If you need to withdraw your Term Deposit before it matures you may need to give us 31 days notice.
- The bank’s description
- Let us help you reach your investment goals sooner with a high interest term deposit.
- Interest calculated
- daily
Also published, not ranked here: Term Deposit 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 · 16 terms
3mo 4.00% today
26 Aug 202610 Oct 2026
6mo 5.00% today
26 Aug 202610 Oct 2026
1yr 5.20% today
26 Aug 202610 Oct 2026
2yr 5.25% today
26 Aug 202610 Oct 2026
3yr 5.25% today
26 Aug 202610 Oct 2026
5yr 5.25% today
26 Aug 202610 Oct 2026
All 16 terms — the other 10
1mo 2.25% today
26 Aug 202610 Oct 2026
2mo 3.00% today
26 Aug 202610 Oct 2026
4mo 4.85% today
26 Aug 202610 Oct 2026
5mo 4.00% today
26 Aug 202610 Oct 2026
7mo 5.45% today
26 Aug 202610 Oct 2026
8mo 4.50% today
26 Aug 202610 Oct 2026
9mo 5.10% today
26 Aug 202610 Oct 2026
10mo 4.50% today
26 Aug 202610 Oct 2026
11mo 4.50% today
26 Aug 202610 Oct 2026
4yr 5.25% today
26 Aug 202610 Oct 2026
Each line is the best retail rate People First 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 People First Bank sitsagainst the 77 banks ranked today
1yr: 43 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 37 more on the leaderboard
6mo: 34 banks ahead
- Heartland Bank 5.45%
- RACQ Bank 5.45%
- Unity Bank 5.35%
- Dnister Bank 5.30%
- Bank Australia 5.30%
- Bank First 5.30%
- and 28 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 |
Timeline5 rate changes since 10 Sep 2026 · ▲5 ▼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. | |
| 23 Sep 2026 | 2yr | 4.75 → 5.25 | ▲ +0.50 |
| 23 Sep 2026 | 3yr | 4.75 → 5.25 | ▲ +0.50 |
| 23 Sep 2026 | 4yr | 4.75 → 5.25 | ▲ +0.50 |
| 23 Sep 2026 | 5yr | 4.75 → 5.25 | ▲ +0.50 |
| 23 Sep 2026 | 7mo | 5.35 → 5.45 | ▲ +0.10 |
Questions about these rates
What is People First Bank’s best term deposit rate today?
On 10 Oct 2026, the best retail term deposit rate People First Bank publishes in its Consumer Data Right feed is 5.45% for 7 months (Term Deposit). That is joint #11 of the 77 Australian banks ranked by best rate today.
What is People First Bank’s 12-month term deposit rate?
5.20% as read on 10 Oct 2026, 0.05 points below the market median of 5.25%, and joint #44 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 People First Bank?
The lowest minimum People First Bank states in its feed is $1,000 (Term Deposit, 1-month). Check the product disclosure statement for balance tiers.
When did People First Bank last change a term deposit rate?
The most recent change we read was on 23 Sep 2026: the 24-month rate moved from 4.75% to 5.25%. We have read 5 changes at People First Bank since 10 Sep 2026.
Are deposits with People First Bank guaranteed?
People First 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 People First 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 People First Bank” below; rates are as read on 10 Oct 2026.
About People First Bank
- Registered as
- People First and Heritage Bank
- Also known as
- Heritage Bank, People's Choice
- Type
- Customer-owned bank (mutual)
- Website
- www.heritage.com.au
- Consumer Data Right feed
- https://public.openbanking.peoplefirstbank.com.au
- 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 People First 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.
People First Bank is the new name of the merged Heritage Bank and People’s Choice Credit Union (brand launched 5 May 2026; Heritage branches are being renamed in phases). Searches for Heritage Bank term deposit rates land here.
Facts about the institution reviewed 15 Sep 2026. Rates read 10 Oct 2026.
Savings accounts at People First Bankhighinterestsavingsaccounts.org
A savings account keeps the money at call, but its rate can change at any time and its best rate usually has monthly conditions. A term deposit locks one rate for its term. Both figures come from the bank’s own feed.
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.