Macquarie Group's (ASX:MQG) Macquarie Bank launched its new Macquarie Digital Term Deposit product on Thursday, according to a same-day statement.

Customers will be able to open, manage, and track the term deposit product digitally through the lender's app or online banking. They will have access to a fixed return across three, six, nine, and 12-month terms with a minimum AU$25,000 deposit, with no establishment or administration fees.

Funds will be automatically transferred to a Macquarie transaction or savings account at maturity.