Best SMSF Term Deposits 2018

Congratulations to the SMSF term deposits Mozo’s money experts awarded Experts Choice Awards in 2018. This is the best place to start your search if you’re looking to lock money away at a fixed interest rate.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

Now in their fifth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.

For the 2018 SMSF term deposit awards, 29 term deposits from 27 financial institutions were compared by our money experts.

For details on how we crunched the numbers and determined the award winners see our methodology report.

SMSF Savings Bank of the Year: RaboDirect

RaboDirect

With the best performing product range across savings, term deposit and bank account categories, RaboBank took out the SMSF Savings Bank of the Year title by Mozo’s money experts for 2018. This is the second year running, RaboBank have claimed the SMSF category’s top award.

Term Deposits

Here’s the list of providers that are offering SMSF customers with the best interest rates across a broad range of term investments in 2018 according to Mozo’s money experts’ analysis of 29 term deposit products available.

RaboDirect
RaboDirect

Term Deposit

2.85% p.a.6 months

2.50% p.a.

2.70% p.a.

Greater Bank
Greater Bank

Term Deposit

2.60% p.a.13 months

2.60% p.a.

2.60% p.a.

ME
ME

Business Term Deposit

2.80% p.a.13 months

2.75% p.a.

2.85% p.a.

Westpac
Westpac

Term Deposit

Major Bank Award

2.55% p.a.5 months

2.30% p.a.

2.40% p.a.

Judging Criteria

Every day Mozo keeps track of thousands of products in banking, energy and insurance.

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers and in some awards categories, business customers. Providers don’t pay to be in the running and we don’t play favourites. Our Judges base their decision on hard-nosed calculations of value, using Mozo’s extensive product database and research capacity.

Experts Choice Awards are awarded to the top 10% of products that meet the selection criteria in each awards category.

FAQs

Did you compare all SMSF term deposits in the market for these awards?

No, but we did compare 29 SMSF term deposits from a range of banks including the Big 4 (ANZ, CommBank, NAB and Westpac), challenger banks, mutuals and credit unions. The full list can be found in our methodology report.

What should I look for in a SMSF term deposit?

The number one thing is a competitive interest rate for the investment term. No one provider will have the best interest rate for every investment term so shop around based on the investment timeframe you want.

Depending on the term deposit provider, you could choose to receive interest payments monthly, quarterly, half-yearly, yearly, or at maturity. This may be an appealing option for a SMSF holder with particular cash flow needs.

You’ll want to avoid having your savings eroded by unnecessary fees so look for a fee free Self Managed Super Fund term deposit like the ones in our winners list above.

How do I open a SMSF term deposit?

You’ll be able to open a SMSF term deposit if you have a Self Managed Super Fund. In order to open the account you’ll need a certified copy of your SMSF Trust Deed, the tax file number (TFN) of your SMSF, the Australian Business Number (ABN) of your Self Managed Super Fund and 100 points of ID and signature of any trustees.

Who are Mozo’s product experts?

Mozo has been researching and comparing financial products since 2008, and thousands of Australians use our comparison services each month. Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of financial services experience and 23 years in online financial comparison.

Where can I find more information about the criteria for the Experts Choice Awards?

Information on the criteria for each award category in the Deposits awards can be found in our methodology report.

I work for a financial provider, how do we promote our award win?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.