Compare Term Deposit Rates
Find the highest term deposit rates in Australia. Enter how much you want to invest and for how long, and see every bank’s best rate ranked from highest to lowest, with the interest you’d earn, the minimum deposit, who can apply and the early withdrawal rules. Rates come from each bank’s official Open Banking data and are refreshed every morning.
Loading the latest term deposit rates… If nothing appears, please make sure JavaScript is turned on.
How to choose a term deposit
- Pick a term you can stick to. Breaking a term deposit early usually means 31 days’ notice and less interest.
- Check the minimum deposit. The best rates often need $5,000 or more, and some rates change with the amount.
- Compare how interest is paid. Interest at maturity usually pays a little more than monthly interest.
- Watch the rollover. Note your maturity date. Banks often roll your money over at a lower rate if you don’t act.
- Spread larger amounts. The government guarantee covers up to $250,000 per person at each bank.
Frequently asked questions
Where do these term deposit rates come from?
Every rate comes from the bank’s own official product data, published under Australia’s Open Banking (Consumer Data Right) rules. We collect it from every bank in the official register and refresh it every morning, so the comparison covers far more banks than most comparison sites.
Is my money safe in a term deposit?
Deposits with Australian banks, building societies and credit unions (authorised deposit-taking institutions) are covered by the Australian Government’s Financial Claims Scheme, up to $250,000 per account holder per institution. Check that the provider is an authorised deposit-taking institution before you invest.
Can I take my money out early?
Usually yes, but most banks need 31 days’ notice and reduce the interest you earn. Open “Requirements and conditions” under each deposit to see that bank’s early withdrawal terms.
Should I choose interest at maturity or monthly?
Interest paid at maturity usually earns a slightly higher rate. Monthly or yearly interest suits you if you need a regular income from your savings. Use the “Interest paid” filter to compare.
What happens when my term deposit matures?
Many banks automatically roll your money into a new term deposit at their current rate, which may be lower. Set a reminder before the maturity date so you can compare rates and move your money if you find a better deal.
General information only. This comparison doesn’t consider your personal objectives, financial situation or needs, and it isn’t financial advice. Rates and conditions are published by each bank and can change at any time. Read the bank’s terms and conditions and Target Market Determination before you invest. Trolley Saver may receive a commission from some providers.