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Compare term deposits with Mozo to find the best account for your needs. Skip straight to our popular term deposits in the table below, or go the whole hog and compare all term deposits now. Read more...

Term deposits might not be the sexiest investment, but they do offer a safe haven in choppy financial seas. In these days of economic uncertainty, term deposits are gaining popularity as a safe place to park spare cash and guard against future interest rate falls.

Finding the best term deposits rates on the market can be a time consuming exercise, but Mozo can help you compare term deposits with ease. Our database has all the latest deposit interest rates and covers all the main financial institutions, including ING term deposits, BankWest term deposits, Raboplus term deposits and more.

You can also get the inside story on the best deals from those in the know with term deposit reviews by the Mozo community.

Term deposit comparison

Whether you’re looking for a short term or long term deposit account, our nifty comparison tools let you quickly filter and compare term deposits according to the features you want.

You can shortlist term deposits and compare your selection side-by-side to pick a winner.

Finding the best term deposit rates

Before you compare term deposits, remember that your money will be locked away from reach for the length of the term. Make sure that you won’t need to access your cash before the term is up, as early withdrawal fees can be harsh.

Deposit terms range from as little as 30 days to three years or more. Term deposit rates differ according to the length of the term and the amount you are investing, so it pays to shop around for the best deposit term and interest rate for your situation.

Term deposit features

Banks calculate and pay term deposit interest in different ways, such as daily, monthly, quarterly and annually. Trying to compare term deposits in this way is enough to give anyone a headache, but choosing a deposit product that pays interest frequently and automatically rolls the interest back in will give you a bigger pot of gold at the end of the rainbow.

Mozo lets you filter and compare term deposits according to the type of features you want, such as how frequently interest is paid and whether early withdrawal is allowed.

	Interest rate*	Key features
Macquarie	6.10% (2 year (annual interest))	Investments between $10,000 to $1 million. Set your own maturity date.	Go to site
Citibank	6.28% (180 day rate)	Special offers for amounts above $25,000	Go to site
Newcastle Permanent	6.10% (180 day rate)	Financially the strongest building society in Australia in terms of credit ratings and net assets	Go to site
ING DIRECT	6.25% (180 day rate)	balances up to $1 million will be guaranteed by the Australian Government	Go to site
*based on a $25,000 deposit. Different interest rates apply to different amounts or different interest payment frequencies.

	Interest rate*	Key features
Macquarie	5.50%	Investments between $10,000 to $1 million. Set your own maturity date.	Go to site
ING DIRECT	5.00%	balances up to $1 million will be guaranteed by the Australian Government	Go to site
*based on a $25,000 deposit. Different interest rates apply to different amounts or different interest payment frequencies.

	Interest rate*	Key features
Citibank	6.28%	Special offers for amounts above $25,000	Go to site
ING DIRECT	6.25%	balances up to $1 million will be guaranteed by the Australian Government	Go to site
Macquarie	6.00%	Investments between $10,000 to $1 million.	Go to site
*based on a $25,000 deposit. Different interest rates apply to different amounts or different interest payment frequencies.

	Interest rate*	Key features
ING DIRECT	5.80%	balances up to $1 million will be guaranteed by the Australian Government	Go to site
St George	6.00%	Special interest rates on balances from $5,000	Go to site
*based on a $25,000 deposit. Different interest rates apply to different amounts or different interest payment frequencies.

	Interest rate*	Key features
ING DIRECT	5.80%	balances up to $1 million will be guaranteed by the Australian Government	Go to site
Macquarie	6.10%	Investments between $10,000 to $1 million.	Go to site
St George	5.50%	Special interest rates on balances from $5,000	Go to site
*based on a $25,000 deposit. Different interest rates apply to different amounts or different interest payment frequencies.

Compare all term deposits

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Compare all term deposits

: Highest rate term deposits; - based on a $10,000 deposit over a 1 year term, yearly interest

ready to go
whole market
big banks

Go to site
1.
6.45%
Suncorp
– flexiRates - Everyday Options sub-account
Go to site
1.
6.45%
Suncorp
– flexiRates - eOptions sub-account
Go to site
3.
6.20%
Newcastle Permanent
– Term Deposit ($5000 to $19999)
Go to site
4.
6.00%
St George
– Long Term Deposit ($5000 to $19999)
Go to site
4.
6.00%
Suncorp
– Long Term Deposit ($10000 to $24999)

1.
6.80%
Rural Bank
– RBonline Term Deposit
2.
6.50%
Rural Bank
– Long Term Deposit ($5000 to $24999)
2.
6.50%
mecu
– Long Term Deposit ($5000 to $24999)
2.
6.50%
Bank of Cyprus Australia
– Long Term ($10000 to $24999)
Go to site
5.
6.45%
Suncorp
– flexiRates - Everyday Options sub-account

1.
6.00%
ANZ
– Long Term Deposit ($5000 to $24999)
1.
6.00%
Commonwealth Bank
– Long Term Deposit ($10000 to $49999)
Go to site
1.
6.00%
St George
– Long Term Deposit ($5000 to $19999)
4.
5.85%
NAB
– Long Term Deposit ($5000 to $19999)
4.
5.85%
Westpac
– Long Term Deposit ($10000 to $19999)

Special offers

Featured term deposit review

UBank term deposits

Overall rating: 9 / 10

I love the great interest rate and the loyalty is an added incentive. Customer service by phone is really good & staff are very helpful. They advise you about new products as they become available but there is no real sales pitch or pressure involved.

– Jenny from New South Wales

Search our term deposit reviews
Review your bank

: Best term deposit providers; - as rated by the Mozo community

Rating
out of 10
1. ING DIRECT term deposits
– 69 reviews

8.4
2. Bendigo Bank term deposits
– 67 reviews

8.2
3. Suncorp term deposits
– 32 reviews

8.1
4. ANZ term deposits
– 112 reviews

7.4
5. St George term deposits
– 38 reviews

7.3

Most recent term deposit reviews

defcredit union term deposits

Overall Rating
10
Pricing
10
Product Features
9
Customer Service
10
Convenience
9
Trust
10

Thrilled with the current 12 month rate of 6.8%, missed the boat with the big banks in December so thrilled to see it back, and good to be with a credit union. – Talitha from Queensland, a defcredit union term deposit customer. Reviewed 13 days ago

Bendigo Bank term deposits

Overall Rating
7
Pricing
7
Product Features
5
Customer Service
8
Convenience
8
Trust
8

Location Good Interest rate – Alan from Victoria, a Bendigo Bank term deposit customer. Reviewed 20 days ago

UBank term deposits

Overall Rating
10
Pricing
10
Product Features
9
Customer Service
10
Convenience
9
Trust
10

Deposits are essentially with NAB, so as safe. Rates and service are much better than other banks. – Tom from New South Wales, an UBank term deposit customer. Reviewed 27 days ago

See all term deposits reviews

: Term deposit articles; – all the latest term deposit info

Government bonds 'may be a safe place for savings' Friday 05 February 2010: Aussies may be able to get a good return on their savings by investing in a fixed-interest bond, a commentator has suggested.

Read more...
Term deposit interest rates set to improve at Teachers Credit Union. Friday 11 December 2009: The chief executive of Teachers Credit Union has said that the group is offering very competitive rates on high-interest savings accounts and term deposits.

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