Newcastle Permanent Term Deposit Review (2026)
Rates and details verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
12-month rate
5.25%
p.a. at maturity
6-month rate
5.00%
p.a. at maturity
Min deposit
$1,000
accessible minimum
About Newcastle Permanent
Newcastle Permanent is one of Australia's largest customer-owned mutual banks, based in Newcastle, NSW. In 2023, it merged with Greater Bank to form the Greater Bank Group — one of the largest mutual banking groups in Australia. Both brands continue to operate independently.
Newcastle Permanent is regulated by APRA and deposits up to $250,000 are protected under the Financial Claims Scheme (FCS). It is particularly well-known in NSW and Queensland, though products are available to Australian residents nationwide. Note that Greater Bank also appears on our Cash Bonuses page with a mortgage refinance offer.
Rates by Term
| Term | Rate (p.a.) |
|---|---|
| 3 months | 4.50% |
| 6 months | 5.00% |
| 12 months | 5.25% |
| 24 months | 4.00% |
| 5 years | Not offered |
Rates as at 18 May 2026. Interest paid at maturity. Check Newcastle Permanent's website for the latest.
Pros and Cons
Pros
- ✓ Well-established mutual bank with long track record
- ✓ $1,000 minimum — accessible
- ✓ Strong 6-month rate (5.00%)
- ✓ Part of Greater Bank Group — large mutual
- ✓ FCS protected up to $250,000
Cons
- ✗ 12-month rate (5.25%) below most competitors
- ✗ 24-month rate (4.00%) drops sharply — not competitive for longer terms
- ✗ No 5-year term
How It Compares
- Judo Bank: 5.45% (12m), $1,000 min
- Unity Bank: 5.30% (12m), 5.35% (24m)
- MyState Bank: 5.30% (12m), $5,000 min
- Newcastle Permanent: 5.25% (12m), $1,000 min
FAQs
What is the Newcastle Permanent 12-month rate?
5.25% p.a. at maturity, with a $1,000 minimum deposit.
Is Newcastle Permanent part of Greater Bank?
Yes — the two merged in 2023 to form the Greater Bank Group, one of Australia's largest mutual banking groups. Both brands still operate separately.
Is my deposit protected?
Yes — Newcastle Permanent is APRA-regulated. Deposits up to $250,000 per account holder are protected under the Financial Claims Scheme.
Information verified 18 May 2026. Rates subject to change. Confirm current rates, terms, and eligibility on Newcastle Permanent's website before investing. This is not financial advice. Deposits up to $250,000 protected under the Financial Claims Scheme.