Term deposit reviews

Read the latest term deposit reviews from the Mozo community. Thousands of Australians have reviewed their term deposit provider to give you the inside story on everything from interest rates to customer service.

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Recent term deposit reviews

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ANZ

ANZ term deposit review

Overall rating   2 / 10

Poor online banking

Had a fixed term deposit with ANZ - their online banking facilities are not at all user friendly
Full review

Had a fixed term deposit with ANZ - their online banking facilities are not at all user friendly

    Price   4 / 10

    Features   2 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   3 / 10

Less

Nesrin (NSW), reviewed 4 days ago

2 people found this review helpful – do you? Yes

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UBank

UBank term deposit review

Overall rating   8 / 10

Competitive interest rates

Best interest rates for term deposits (& low home loan rates).
Full review

Best interest rates for term deposits (& low home loan rates).

    Price   9 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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George (NSW), reviewed 25 days ago

1 person found this review helpful – do you? Yes

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ME

ME term deposit review

Overall rating   6 / 10

No fuss budget banking

No account keeping fees and very competitive interest rates
Full review

No account keeping fees and very competitive interest rates

    Price   6 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   3 / 10

    Trust   6 / 10

Less

Jeff (TAS), reviewed 25 days ago

3 people found this review helpful – do you? Yes

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Bank of China

Bank of China term deposit review

Overall rating   7 / 10

Competitive premiums and great customer service

Good

    Price   8 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   -1 / 10

Less

Charles (NT), reviewed 26 days ago

1 person found this review helpful – do you? Yes

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Alliance One Credit Union

Alliance One Credit Union term deposit review

Overall rating   3 / 10

Competitive premiums.

It's ok
Full review

It's ok

    Price   0 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   1 / 10

    Trust   6 / 10

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Bob (QLD), reviewed about 1 month ago

Was this review helpful? Yes

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ING DIRECT

ING DIRECT term deposit review

Overall rating   10 / 10

Helpful and easy to deal with

The best bank.
Full review

The best bank.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Helen (QLD), reviewed about 2 months ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Customer service is the key.

I have been a customer for over 60 years, and would have given them away if ever I was dissatisfied with their service. Over the counter and online service are as good as they need be.
Full review

I have been a customer for over 60 years, and would have given them away if ever I was dissatisfied with their service. Over the counter and online service are as good as they need be.

    Price   5 / 10

    Features   3 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Frank (NSW), reviewed about 2 months ago

Was this review helpful? Yes

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Newcastle Permanent

Newcastle Permanent term deposit review

Overall rating   9 / 10

Fantastic

I switched to the perm around 15 years ago because of their interest rates. My daughter is now a perm customer
Full review

I switched to the perm around 15 years ago because of their interest rates. My daughter is now a perm customer

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

David (NSW), reviewed about 2 months ago

1 person found this review helpful – do you? Yes

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Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   1 / 10

Could improve

Low interest
Full review

Low interest

    Price   2 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   1 / 10

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Halina (QLD), reviewed about 2 months ago

Was this review helpful? Yes

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RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Great interest rates and triple star bank.

Likes: interest rates are really good. One of the best in the market. Also when interest increases they will pass it on. Dislikes: only on-line. Also can only use with 1 link account.
Full review

Likes: interest rates are really good. One of the best in the market. Also when interest increases they will pass it on. Dislikes: only on-line. Also can only use with 1 link account.

    Price   9 / 10

    Features   9 / 10

    Customer service   7 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Pai (NSW), reviewed about 2 months ago

Was this review helpful? Yes

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Westpac

Westpac term deposit review

Overall rating   8 / 10

Competitive interest rates and always friendly

Very competitive interest rates, staff are always friendly and willing help!
Full review

Very competitive interest rates, staff are always friendly and willing help!

    Price   9 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Annalisa (WA), reviewed about 2 months ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   6 / 10

Good vs poor

Good product renewal process is poorly managed
Full review

Good product renewal process is poorly managed

    Price   9 / 10

    Features   4 / 10

    Customer service   1 / 10

    Convenience   10 / 10

    Trust   8 / 10

Less

Neil (VIC), reviewed about 2 months ago

1 person found this review helpful – do you? Yes

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Heritage Bank

Heritage Bank GoalSaver term deposit review

Overall rating   8 / 10

Exceptional customer service

Great bank with very helpful staff. Exceptional customer service.
Full review

Great bank with very helpful staff. Exceptional customer service.

    Price   5 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Miranda (QLD), reviewed about 2 months ago

1 person found this review helpful – do you? Yes

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ME

ME term deposit review

Overall rating   9 / 10

Best term deposit rates and good customer service.

ME Bank is very good and has the best rates for term deposits. Very easy to set up and manage. Great customer service too.
Full review

ME Bank is very good and has the best rates for term deposits. Very easy to set up and manage. Great customer service too.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Barbs (NSW), reviewed about 2 months ago

4 people found this review helpful – do you? Yes

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Bendigo Bank

Bendigo Bank term deposit review

Overall rating   7 / 10

Easy bank to deal with.

I don't like the current low interest rates.
Full review

I don't like the current low interest rates.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   -1 / 10

Less

Phil (NSW), reviewed about 2 months ago

Was this review helpful? Yes

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Bendigo Bank

Bendigo Bank term deposit review

Overall rating   9 / 10

Excellent customer service.

Bendigo Bank is part of the community in which it is situated. They take part in and contribute to events in the local area. Staff are efficient and friendly - a pleasure to deal with.
Full review

Bendigo Bank is part of the community in which it is situated. They take part in and contribute to events in the local area. Staff are efficient and friendly - a pleasure to deal with.

    Price   7 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Pat (VIC), reviewed about 2 months ago

Was this review helpful? Yes

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ING DIRECT

ING DIRECT term deposit review

Overall rating   9 / 10

No fees ever, 2% back on paywave purchases, no ATM

No fees ever, 2% back on paywave purchases, no ATM Fees anywhere in Australia.
Full review

No fees ever, 2% back on paywave purchases, no ATM Fees anywhere in Australia.

    Price   9 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Diana (VIC), reviewed about 2 months ago

Was this review helpful? Yes

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St.George

St.George term deposit review

Overall rating   3 / 10

Customer service confusing and not always correct

St George was our bank of choice for our accounts in particular our term investment now called incentive saver. All accounts with the exception of the incentive saver were in both names. The incentive saver account was taken out when I was ill...
Full review

St George was our bank of choice for our accounts in particular our term investment now called incentive saver. All accounts with the exception of the incentive saver were in both names. The incentive saver account was taken out when I was ill with breast cancer and long term reconstruction. This account was in my husbands name. When my husband passed away 4 months ago St George froze that account. They wanted me to go through probate. My husband and myself were inseparable and were married 51 years. I was his carer and the only beneficiary of his will. What I had to go through to have that money put in my name was intolerable emotionally and physically. I had to contact my solicitor and do a paper trail to show that this money also belonged to me. Thankfully my solicitor was very helpful and provided what I needed. It was not an easy road grieving the loss of my beautiful husband and having to fight to get my own money. I was told many things that were not true like its the law, any amount over 75 thousand in one name has to go through probate, this was later changed to 50 thousand. I was also told there had to be dire circumstances for them to waive probate. I asked what he sees dire circumstances were, however not one person could tell me. No wonder. Was confused and upset. I decided to fight, it was the fight or flight syndrome. I eventually won the battle but not without a personal tell. My husband would have been appalled.

    Price   6 / 10

    Features   4 / 10

    Customer service   2 / 10

    Convenience   5 / 10

    Trust   2 / 10

Less

Dianne (NSW), reviewed about 2 months ago

2 people found this review helpful – do you? Yes

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Bankwest

Bankwest term deposit review

Overall rating   10 / 10

Fantastic bank even in remote regions.

Great deal, great service.
Full review

Great deal, great service.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Peta (WA), reviewed about 2 months ago

Was this review helpful? Yes

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Bank Australia

Bank Australia term deposit review

Overall rating   9 / 10

Awesome Service

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.
Full review

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Malcolm (QLD), reviewed about 2 months ago

1 person found this review helpful – do you? Yes

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ME

ME term deposit review

Overall rating   4 / 10

Terrible customer service, lack of respect

With no physical stores within my region and a complete abandonment on quality customer service this bank lacks density and service
Full review

With no physical stores within my region and a complete abandonment on quality customer service this bank lacks density and service

    Price   10 / 10

    Features   8 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   4 / 10

Less

Clara (QLD), reviewed 2 months ago

3 people found this review helpful – do you? Yes

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NAB

NAB term deposit review

Overall rating   7 / 10

Lots of choice with deposit products

Not the best rates but quite competitive, good service and ease of use
Full review

Not the best rates but quite competitive, good service and ease of use

    Price   6 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Nigel (NSW), reviewed 2 months ago

Was this review helpful? Yes

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CUA

CUA term deposit review

Overall rating   9 / 10

Great customer service and great products

I prefer the very personal contact I get from CUA. Staff are always willing to help you find the right product and will always go the extra mile for you. I get phone calls from staff to check on if I am happy with the way things are going and I am...
Full review

I prefer the very personal contact I get from CUA. Staff are always willing to help you find the right product and will always go the extra mile for you. I get phone calls from staff to check on if I am happy with the way things are going and I am notified of any changes immediately. I have had no negative issues with CUA and would be happy to let others know about CUA.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Moira (VIC), reviewed 2 months ago

1 person found this review helpful – do you? Yes

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NAB

NAB term deposit review

Overall rating   6 / 10

Good personal service.

Provides good personal service.
Full review

Provides good personal service.

    Price   6 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Chandra (VIC), reviewed 2 months ago

Was this review helpful? Yes

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ING DIRECT

ING DIRECT term deposit review

Overall rating   6 / 10

Prompt on phone queries and on line responses.

Provides prompt service.
Full review

Provides prompt service.

    Price   6 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Chandra (VIC), reviewed 2 months ago

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Term deposit comparisons on Mozo Rates updated daily

  • ME Term Deposit

    ME Term Deposit

    • No account keeping fees
    • Choose a term from 1 month to 5 years
    • Apply online in minutes

    interest rate*

    3.30%
    6 months

    Go to site

    More info

    • No account keeping fees
    • Choose a term from 1 month to 5 years
    • Apply online in minutes
    Product info
    • Minimum deposit: $1,000
    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.2

    Based on 18 ME term deposit reviews

    Need more information?
    Go to site

    More info

  • Bankwest Online Term Deposit

    Bankwest Online Term Deposit

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process

    interest rate*

    2.85%
    6 months

    Go to site

    More info

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process
    Product info
    • Minimum deposit: $1,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.7

    Based on 47 Bankwest term deposit reviews

    Need more information?
    Go to site

    More info

  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • High interest rate
    • Short investment term of 4 months for investments over $50K
    • Interest paid at maturity

    interest rate*

    2.85%
    4 months

    Go to site

    More info

    • High interest rate
    • Short investment term of 4 months for investments over $50K
    • Interest paid at maturity
    Product info
    • Minimum deposit: $50,000
    • Maximum deposit: $500,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    6.3

    Based on 3 Bank Australia term deposit reviews

    Need more information?
    Go to site

    More info

  • ME Term Deposit

    ME Term Deposit

    • No account keeping fees
    • Choose a term from 1 month to 5 years
    • Apply online in minutes

    interest rate*

    2.50%
    7 months

    Go to site

    More info

    • No account keeping fees
    • Choose a term from 1 month to 5 years
    • Apply online in minutes
    Product info
    • Minimum deposit: $1,000
    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.2

    Based on 18 ME term deposit reviews

    Need more information?
    Go to site

    More info

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