Great Southern Bank launches 100% digital term deposit rates for smaller business, expands eligibility
Great Southern Bank has unveiled a new suite of entirely digital, competitive term deposit rates for small business customers, offering returns of up to 3.95% for its Business+ customers.
The launch highlights the bank’s research findings, which showed that one in ten nano and micro-SMEs are seeking a term deposit, potentially attracted by the certainty of the return.
The bank has also expanded eligibility for small business banking to include trusts and self-managed super funds (SMSFs), in addition to sole traders, partnerships between individuals, and companies.
The changes reinforce the bank’s broader commitment to supporting small businesses and follows its recent recognition with Canstar’s Outstanding Value Award for Business Savings Accounts.
Rolf Stromsoe, Chief Customer Officer at Great Southern Bank, said:
“For small business owners, certainty and simplicity matter. Every small business deserves to see their hard work pay off and their savings grow. Knowing exactly what they’ll earn – without market fluctuations or surprises – makes term deposits a smart, steady choice for their savings strategy.”
Developed in partnership with Australian fintech Constantinople, the new proposition aims to address key challenges faced by small businesses, including cashflow management and operational efficiency.
Key features of the term deposits
- Flexible terms from 1 -12 months
- Rates up to 5.25%
- Open in minutes, completely online
Earlier in the year, the bank further expanded its Business + offering to include
- Direct bank feeds to Xero and MYOB
- On-the-spot invoicing with automated payment reminders
- Digital applications for working capital and vehicle loans
- Full digital onboarding for new customers.
Ends
Business+ Term Deposit rates*
- Minimum investment of $5,000
- Minimum term of 1 month
| Terms | Interest at maturity |
|---|---|
| 1 Month | 4.00% p.a. |
| 2 Months | 4.00% p.a. |
| 3 Months | 5.10% p.a. |
| 4 Months | 4.25% p.a. |
| 5 Months | 4.25% p.a. |
| 6 Months | 5.05% p.a. |
| 7 Months | 4.00% p.a. |
| 8 Months | 4.00% p.a. |
| 9 Months | 4.95% p.a. |
| 10 Months | 4.00% p.a. |
| 11 Months | 4.00% p.a. |
| 12 Months | 5.25% p.a. |
*as at 21 May 2026
Further information on Great Southern Bank’s small business accounts, fees and interest rates can be found at greatsouthernbank.com.au/business.