Financial wellbeing starts with smart saving

Financial wellbeing is about feeling confident, secure, and in control of your finances. One way to build confidence is using savings tools that not only grow your money, but support healthy habits. 

How Term Deposit and Bonus Saver accounts can work together to support your goals 

Financial wellbeing isn't just about having money - it's about feeling confident, secure, and in control of your finances.  

One way to build that confidence is by using savings tools that not only grow your money, but support healthy habits along the way, as well. 

Two simple tools that are a smart addition to your savings strategy and can make a big difference are Term Deposit and Bonus Saver accounts. Each plays a different role in your financial wellbeing by making your money work while you don’t have to - and together, they can help you feel more secure and future-ready. 

Build financial confidence with passive income 

A Term Deposit is a powerful way to create a steady, predictable income stream - without needing to monitor the markets or change your behaviour. 

  • Earn interest without lifting a finger: Once your money is locked in, it earns a fixed rate for the full term*
  • Steady returns: You know exactly how much you'll earn at the end of the term
  • Discourage temptation to dip in: Committing to a deposit term can help discourage temptations to withdraw early.

This kind of structure can help reduce financial stress. Instead of worrying about fluctuations or feeling pressure to actively manage your savings, you can set it and forget it, knowing your money is growing safely in the background. Term Deposits are ideal when you're saving for a home deposit, holiday, or major purchase if you don’t need immediate access to your funds and want to earn without having to meet Bonus Saver conditions. 

Stay flexible while still growing your savings 

A common concern with Term Deposits is: What if I need my money? That’s where the Bonus Saver comes in. It gives you: 

  • Encouragement to build regular savings habits
  • Higher interest earnings when you consistently meet deposit & withdrawal conditions
  • Access to funds in case of emergencies. 

Smart strategy: use both together 

You don’t have to choose just one. Financial wellbeing is about balance - having money you have accessibility to, and money that’s safely growing for the future. 

Here’s how they can work together: 

  • Use a Bonus Saver for regular savings and as an emergency buffer
  • Lock away larger amounts in a Term Deposit to earn better interest over a longer period.

This balanced approach allows you to earn more, save smarter, and to reach your financial goals faster. 

Opening a Bonus Saver  

To open a Bonus Saver account, visit bankvic.com.au, click ‘Login” to access internet banking and then enter your member number and password. Alternatively, you can compare our accounts to find the right one for you. 

Opening a Term Deposit  

To open a Term Deposit account, visit bankvic.com.au, click ‘Login” to access internet banking and then enter your member number and password. Alternatively, you can compare our accounts to find the right one for you. 

We’re here to help  

If you have any questions, call us on 13 63 73. 

This information is general only, does not consider your personal circumstances and you should consider its appropriateness & refer to the T&Cs, available on request, before acquiring the product. Fees & charges may apply & interest rates are subject to change. 

Police Financial Services Limited ABN 33 087 651 661 - trading as BankVic | AFSL and Australian Credit License 240293. 

*Early withdrawal: We do not charge a fee for early withdrawal; however, we will reduce the interest rate payable on the Term Deposit to the Everyday account interest rate applicable at the time.