Finding the best return for your investment
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 fix 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 weigh them up with ease. Our database has all the best Australian term deposit rates and covers all the main financial institutions, including: the Commonweath Bank, NAB, Westpac, ANZ
You'll also find top bank term deposits from Australia's leading challenger brands such as: ING DIRECT , Bankwest, UBank. With these great tools, you can compare term deposit rates Australia wide
You can also get the inside story on the best deals from those in the know with reviews by the Mozo community.
Finding the best rate for the right time period
Whether you're looking for a 6 month or 5 year account, our nifty comparison tools let you quickly filter and compare term deposits according to the features and fixed term you want. You can shortlist term deposits and compare your rates, fees and features 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.
Fixed deposit terms range from as little as 30 days to three years or more. Interest rates differ according to the length of the term and the amount you are investing, so it pays to shop around for the best interest rates for terms applicable for your situation.
It is work crunching the numbers with a term deposit calculator to find best rates that Australian banks can offer you. By using our calculator to make a term deposit rates comparison, you can also see how much your investment will be worth at the end of the investment period and compare this with high interest savings accounts rates.
Interest rates across Australia
Banks calculate and pay interest for deposits in different ways, such as daily, monthly, quarterly and annually. Trying to compare term deposit rates in this way is enough to give anyone a headache, but finding the best rate for a situation, you'll get 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.
So for the best term deposit interest rates in Australia, set aside a little time to work out what you want from your fixed term investment and use our online quide to compare term deposit interest rates.
This pages is about personal term deposits, head over to our business banking section if you're after business deposits.