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Term Deposit Awards 2020

Congratulations to the 2020 winners of Mozo Experts Choice Awards for Term Deposits. We’ve compared a myriad of term deposits for this year’s awards, so if you want to lock your stashed cash away, whether for the long haul or a short stint, start your search right here.

What are the Mozo Experts Choice Awards?

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

For the 2020 bank account awards, we analysed 86 personal term deposit products issued by 75 Australian financial institutions.

“With the broad drop in interest rates for term deposits in 2019, it’s more important than ever to find the ones that offer the best value.” said Peter Marshall, Mozo Experts Choice Awards judge.  

“If you have some cash saved up and want to put it away for a rainy day and get something in return, then take a look at the winners of these awards to guide you in the right direction.”

For details on how we crunched the numbers and determined our winners see our 2020 Mozo Experts Choice Awards Bank Accounts & Savings methodology report.

Term Deposit
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This category identifies the providers that consistently offer personal customers the best interest rates across short, medium, and long term investment options. 68 term deposit accounts were considered for this award.

Short Term Deposit
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This award focuses on the financial institutions offering the leading shorter period term deposit products. 77 term deposit accounts were considered for this award.

Frequently Asked Questions
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What’s the Judging Criteria for the awards?

Since 2014, the Mozo Experts Choice Awards have been recognising products that deliver exceptional value or benefits to consumers.

See our methodology report for more detailed information on how we performed product comparisons and determined the final winners for the Bank Accounts & Savings awards.

 

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

We aim to include most bank account & savings providers in the market in the Mozo Experts Choice Awards. However, not every financial institution product on the market will be included in our review.  Any product we review must be available in the market at the time of our analysis. 

 

How do I choose the best term deposit account for me?

The best term deposit for your savings depends on how much you have to lock away, and the length of term you’re willing to commit to. Check out our winners list to set you on the right foot in choosing the term deposit that’s right for you.

 

Who are the Mozo’s experts?

The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost three decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.

 

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

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