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TERM DEPOSITS

Looking to lock away some cash for the short or long term? Mozo can help you get the best return on your money. Our whole market comparisons will help you find the best term deposit for your investment needs.

  • We compare 68 term deposits from 64 banks

  • We update term deposit information on our site daily

  • You can read unbiased term deposit reviews on Mozo

    • ING DIRECT Term Deposit
      • No ING DIRECT fees, ever
      • Deposit from $10K to $5 million
      • Loyalty Bonus Rate on rollover
    • interest rate*

      3.80%
      2 years

    • Go to site
    More info
    • Westpac Term Deposit
      • No set up, monthly service or management fees
      • Pick the term from one week to 5 years
      • Choose to invest from $5,000 or more
    • interest rate*

      3.70%
      3 years

    • Go to site
    More info
    • Bankwest Online Term Deposit
      • No fees
      • Invest anything from $1,000 to $5 million
      • 100% secure online application process
    • interest rate*

      3.40%
      4 months

    • Go to site
    More info
    • St.George Term Deposit
      • Terms from 1 month up to 5 years
      • No set up or monthly service fees
      • Interest paid at maturity
    • interest rate*

      3.40%
      2 years

    • Go to site
    More info
    • Bank of Melbourne Term Deposit
      • No set up fees
      • $1,000 minimum investment for a minimum term of 1 month
      • Apply online and use BPAY to fund your opening deposit
    • interest rate*

      3.15%
      4 months

    • Go to site
    More info

*Different interest rates apply to different amounts or different interest payment frequencies.

  • Term deposit reviews

      • RaboDirect

        RaboDirect term deposit review

        No tricky "honeymoon" rates

        1. Overall customer rating
        2. (Reviewed 5 days ago)

        I could not find any better interest rates for a SMSF. Easy to switch and change.  Full review 

        I could not find any better interest rates for a SMSF. Easy to switch and change.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
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        RaboDirect term deposit review by Beat from South Australia

        1 person found this review helpful – do you? Yes flag

      • Westpac

        Westpac term deposit review

        Good service but poor interest rate

        1. Overall customer rating
        2. (Reviewed 5 days ago)

        I have invested thousands of dollars in a term deposit as a non risk outlay but when it expired this year, I was very upset by how low the new interest rate is now. However the bank's service is good.  Full review 

        I have invested thousands of dollars in a term deposit as a non risk outlay but when it expired this year, I was very upset by how low the new interest rate is now. However the bank's service is good.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
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        Westpac term deposit review by Sylvia from New South Wales

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      • NAB

        NAB term deposit review

        Very polite staff, always there to help

        1. Overall customer rating
        2. (Reviewed 5 days ago)

        Would love more branches in the Western Suburbs areas. This bank is very competitive and staff are always helpful and polite when in need of any type of service.  Full review 

        Would love more branches in the Western Suburbs areas. This bank is very competitive and staff are always helpful and polite when in need of any type of service.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
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        NAB term deposit review by Priscilla from New South Wales

        1 person found this review helpful – do you? Yes flag

    • 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.

  • Term deposit calculators

    Crunch numbers with our handy calculators.
  • Term deposit guides

    Don't get locked in a dud term deposit. Get the best account and highest savings interest tips with our handy guides.

  • Community

    Keep up to date with the latest news or get your term deposit questions answered by the money mavens on Mozo Answers.