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31-Day Special Term Deposit 6% p.a. on Balance between A$3,000 and A$250,000 @ in1bank

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31-Day Special Term Deposit 6% p.a. on Balance between A$3,000 and A$250,000 @ in1bank
Go to Deal
Aloa on 19/06/2024 - 10:51 in1bank.com.au (249 clicks)
Last edited 19/06/2024 - 15:34 by 1 other user

Another neobank's offering, seems legit/regulated under FCS. Below details are copy/paste from the promo page.

How to create your in1Deposit

Simply follow these steps:

  1. Download the in1bank app and create a new in1bank account in minutes

  2. After your account is created, transfer funds into your new in1bank account (click into the welcome screen then click the "receive" button on the top to find your BSB: 311-111 and Account Number: XXXX XXXX X).

  3. Choose 'Create a new in1Deposit' to create a new term deposit account in seconds.

  4. In the 'Reference Rates' section, select the '31 Days' option.

  5. Continue and confirm

T&C:

  • This promotion is valid only for Special Term Deposit (TD) established via the in1bank app between 3 June 2024 and 30 June 2024.
  • The 31-Day Special Term Deposit in is AUD only, on balances between A$3,000 and A$250,000 (both inclusive).
  • The 6% p.a. 31-Day Special Term Deposit rate is a combination of the standard 31-Day TD rate of 4% p.a. plus a bonus rate of 2% p.a. during the promotional period only.
  • Rollovers on maturity will attract the standard rate at the time plus 0.1% loyalty bonus.
  • This promotion is only valid for one TD per customer including both individuals and businesses.
  • This promotion is subject to change without notice and may be withdrawn earlier.
Financial Term Deposit

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closed Comments

  • Windows7forever on 19/06/2024 - 11:37
    +4

    Interesting

  • MeesusEff on 19/06/2024 - 11:41

    Hm, have to move money out of ubank anyway.. Might be good to park for a month. Anyone have any experience on this?

    • Gavman on 19/06/2024 - 11:43
      +4

      for 1 month, hardly worth the HF

      • Windows7forever on 19/06/2024 - 11:45
        +4

        Just realised it drops to 4% in the subsequent months. Meh.

      • peter on 20/06/2024 - 11:54

        HF? It might mean handling fee, but there's no actual handling fee. HF= Have Fun?

    • brisneylander on 19/06/2024 - 18:20

      Can I ask why you have to move money out of ubank? I've tinkered with them for a while. There was a time I just felt nervous using them but seems they are better now, and increased interest post 1 July.

      Just curious if there are any concerns I should be mindful of before moving reasonable amount in there.

      • MeesusEff on 19/06/2024 - 18:26

        I wrote that JUST before I saw the new post of the 5.5% interest, but I'm keeping AMP open as pretty close to the first tier ceiling.

  • payless69 on 19/06/2024 - 11:47

    sweet

  • Gdsamp on 19/06/2024 - 11:50

    chat is this real

  • modded on 19/06/2024 - 11:57
    +4

    Quick maths, given $50K, shows that you'll get $20 more for the first month, compared to Ubank's 5.5%p.a. it doesn't seem worth the effort to set up a new account, given that most people will likely not dump $50k into a term deposit they've never heard of before.

    • M00Cow on 19/06/2024 - 13:26
      +2

      yet we all get excited about half priced chips! Welwyn about $60 for me, so I'll give it a go

      • modded on 19/06/2024 - 17:38

        Great stuff! If the value proposition works for you, then go for it. Be sure to let us know how the bank's app and other services are 😁

  • justtoreply on 19/06/2024 - 12:12
    +4

    31 days? Rofl.

    • peter on 20/06/2024 - 11:39
      -1

      "Rofl", people still talk like that?

      • justtoreply on 20/06/2024 - 12:50

        I'm old. If only you young'uns could hear how stupid you sound too.

  • chrisharry53 on 20/06/2024 - 12:58
    +1

    $128 more interest for 31 days on $250k compared to 5.4% with AMP. For a couple, not too much of a hassle for $250 odd.

  • peter on 21/06/2024 - 20:58

    I have been unable to open another Bano account, I've been suspended, and Hay tried to help me open a new account but failed, the verification went into an infinite loop, they were very nice about it but it's still glitching, so it's nice that I was able to get my in1bank account open without any unfortunate incidents. The app seems good so far.

  • Little Ada on 26/06/2024 - 11:00

    They are quite new to the market but definitely legit bank. I opened account with them couple of months ago and everything is done on the app and very smooth and convenient. Unfortunately I don’t have 3000 to join this promotion 😭😭 or else, would definitely give it a go.

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