Term deposits are a great, safe, secure way to lock in a really good interest rate for savings you don't need easy access to for an extended period of time. 

You can get access to your money if you really need to, but doing so will usually cost you some (or all) of the interest earned. There are no fees to set-up a term deposit or at the conclusion of the term when you can roll it over for a new term, with your earned interest. 

This RateCity Exclusive offer Apply before the 31st of May. Only available through RateCity - terms and conditions apply.

The Australian Government guarantees aggregated deposits of up to A$250,000 with Australian authorised deposit-taking institutions, and First Option Bank certainly is one.