Term deposit and annuity interest rates
For those seeking a more secure investment, choose from a range of maturing investments.
Please note that a minimum investment amount of $5,000, restricted access to capital, and strategy terms apply. If you wish to invest in term deposits, please refer to the relevant product document or contact our Client Services Team for information on the relevant terms and conditions. Note that not all product offerings from the listed providers are available in IOOF Employer Super, IOOF Personal Super and IOOF Pension.
Term deposits
Interest rates as at 27 November 2023 effective 12:00am AEST
| Provider | Term | Interest rate* |
|---|---|---|
| NAB | 1 month | 2.95% pa |
| NAB | 2 months | 4.50% pa |
| Adelaide Bank | 3 months | 4.82% pa |
| ANZ | 3 months | 5.07% pa |
| NAB | 3 months | 4.95% pa |
| Adelaide Bank | 6 months | 4.95% pa |
| ANZ | 6 months | 5.22% pa |
| NAB | 6 months | 5.15% pa |
| Adelaide Bank | 12 months | 5.00% pa |
| ANZ | 12 months | 5.32% pa |
| NAB | 12 months | 5.30% pa |
| NAB | 24 months | 5.05% pa |
Fixed-term annuities
Challenger Guaranteed Annuity terms, rates and payment frequencies available through IOOF Employer Super, IOOF Personal Super and IOOF Pension for purchase by 5:00pm AEDT on Monday, 6 November 2023.
| Term | Base indicative interest rate1 | Guaranteed additional premium rate2 | Indicative interest rate3 | Interest payment frequency |
|---|---|---|---|---|
| 1 year | 5.09% pa | 0.10% pa | 5.18% pa* | Semi-annual |
| 2 year | 5.35% pa | 0.15% pa | 5.50% pa | Annual |
| 3 year | 5.40% pa | 0.15% pa | 5.55% pa | Annual |
| 4 year | 5.45% pa | 0.15% pa | 5.60% pa | Annual |
| 5 year | 5.50% pa | 0.15% pa | 5.65% pa | Annual |
New purchases of annuities
Clients must have sufficient cash available in their account at the time of purchasing a new annuity request (7 November 2023). If your clients do not have sufficient cash levels4 on 7 November 2023, their new annuity request may not be honoured and will need to wait until the next Challenger Annuity Offer to place their instruction.
Reinvesting in annuities
When reinvesting, clients must have sufficient redeemable investments available in their account at the time of processing a new annuity request (7 November 2023). If your clients do not have sufficient redeemable investments on 7 November 2023, their new annuity request may not be honoured and will need to wait until the next Challenger Annuity Offer to place their instruction.