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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  • ME Term Deposit review

    Overall rating   1 / 10
    Hopeless. Avoid the frustration and incompetence

    Recently tried to put in 300k on a fixed term via their interface, got a text back saying they needed more personal info and to call their support line. Three attempted calls later of some 90 minutes duration in total and having to listen to the continuous roll out of their Covid 19 chestnut, I gave up and sent en email. Still no response and after a week in total went elsewhere. If you like dealing with automated software, an institution that has no facilities that doesn't employ sufficient people to man a support centre capable of dealing with anything other than a low median call rate then this is the Bank.

    Features
    5 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Andy, Australian Capital Territory, reviewed 1 day ago
  • MyState Bank Term Deposit review

    Overall rating   9 / 10
    Great service.

    Setting up an online term deposit with MyState was a simple process. The interest rate on offer was competitive. For other banking needs the in-branch staff in Launceston were very helpful and competent.

    Price
    9 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Christopher, Tasmania, reviewed 5 days ago
  • Bank of us Term Deposit review

    Overall rating   10 / 10
    BEST bank in Tassie.

    They are just easy to deal with in store and over the phone.

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Daniel, Tasmania, reviewed about 1 month ago
  • St.George Term Deposit review

    Overall rating   6 / 10
    Ease of use but noncompetitive interest rates

    Pros are that it's simple to use and understand. They do give loyalty interest rate bonus. However, interest rates are too low.

    Price
    4 / 10
    Features
    4 / 10
    Customer service
    5 / 10
    Convenience
    7 / 10
    Trust
    8 / 10
    Less
    Phillip, New South Wales, reviewed about 1 month ago
  • Rabobank Term Deposit review

    Overall rating   10 / 10
    Simply the best all round banking.

    Online banking with easy to follow instructions, Secure log on. Always easy to contact if help is needed. Best interest rates I have found.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Rosemary, Victoria, reviewed about 1 month ago
  • Qudos Bank Term Deposit review

    Overall rating   0 / 10
    Not interested in $600,000 - No customer service.

    I had over $600,000 to invest in a term deposit so I spoke with Qudos. They told me I needed to provide information and it would be reviewed and the term deposit would be able to be opened in 24 - 48 hours. I continually called and was told it was not able to be opened as they had not received the back of my licence. I sent this 3 times and I could see each time it went through. Finally they told me it actually take 5 - 7 days to check my information. I was told by 3 different staff members they would escalate my situation and get back to me. Day 7 and I have hard nothing. What a joke this bank is. Obviously not interested in my money. Had they told me it could take this long I would have left it with ME bank, where I had NO ISSUE. UNLIKE QUDOS.

    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Janet, Victoria, reviewed about 1 month ago
  • Commonwealth Bank Term Deposit review

    Overall rating   7 / 10
    They get the tick of mediocre.

    I don't think you could be happy with a bank that offers close to 0% interest on saved deposits. But they certainly win when it comes to the customer service department.

    Price
    0 / 10
    Features
    5 / 10
    Customer service
    7 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Jonathan, Victoria, reviewed about 1 month ago
  • Commonwealth Bank Term Deposit review

    Overall rating   8 / 10
    Convenient, well-known and reliable

    Convenient bank for most locations and one of the most well-known and reliable banks.

    Price
    4 / 10
    Features
    4 / 10
    Customer service
    8 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Luke, Queensland, reviewed about 1 month ago
  • ANZ Term Deposit review

    Overall rating   10 / 10
    No quite as good as in-store help.

    Good explanation of a Term Deposit.

    Price
    8 / 10
    Features
    5 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Carolyn, Western Australia, reviewed about 2 months ago
  • Westpac Term Deposit review

    Overall rating   6 / 10
    Convenient.

    My review relates to Westpac/RAMS, the term deposit was quick to set up, however, the $250 minimum deposit without withdrawals seems a little excessive for the financial return. In saying that there is little in the market that betters their terms.

    Price
    5 / 10
    Features
    6 / 10
    Customer service
    5 / 10
    Convenience
    9 / 10
    Trust
    7 / 10
    Less
    Bernadette, Queensland, reviewed 2 months ago
  • ANZ Term Deposit review

    Overall rating   10 / 10
    Good customer service

    ANZ is good for students and parents.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Chinonye, New South Wales, reviewed 3 months ago
  • ANZ First - Student Offer review

    Overall rating   9 / 10
    Great customer service

    I like ANZ because it's good for students and it's a good bank.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Chinonye, New South Wales, reviewed 3 months ago
  • Commonwealth Bank Term Deposit review

    Overall rating   10 / 10
    Competitive rates and excellent customer service

    Put $5K in a term deposit and received a good rate of interest for my money, without having to put the usual $10K. Was pleased with service received from my local branch, near home.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Roseann, Victoria, reviewed 3 months ago
  • Commonwealth Bank Term Deposit review

    Overall rating   4 / 10
    Needs to do better.

    They hide interest rates from you, they're very difficult to find - not to mention incredibly low.

    Price
    2 / 10
    Features
    2 / 10
    Customer service
    3 / 10
    Convenience
    5 / 10
    Trust
    3 / 10
    Less
    Benjamin, New South Wales, reviewed 3 months ago
  • Police Bank Term Deposit review

    Overall rating   10 / 10
    One of the BEST term deposit interest rates.

    The Police Bank provides one of the highest interest rates for fixed term deposit products.

    Price
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Stephen, New South Wales, reviewed 3 months ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Term deposit comparisons on Mozo - rates updated daily

    • Online Term Deposit

      interest rate*
      1.10% p.a.
      1 year
      Minimum deposit
      $5,000
      Govt Deposit Guarantee
      Yesup to $250,000

      Promoted
    • Term Deposit

      interest rate*
      0.70% p.a.
      3 months
      Minimum deposit
      $10,000
      Govt Deposit Guarantee
      Yesup to $250,000

      Promoted
    • Term Deposit

      interest rate*
      0.80% p.a.
      6 months
      Minimum deposit
      $25,000
      Govt Deposit Guarantee
      Yesup to $250,000

      Promoted
    • Term Deposit

      interest rate*
      0.80% p.a.
      1 year
      Minimum deposit
      $25,000
      Govt Deposit Guarantee
      Yesup to $250,000

      Promoted
    • Term Deposit

      interest rate*
      0.85% p.a.
      6 months
      Minimum deposit
      $25,000
      Govt Deposit Guarantee
      Yesup to $250,000

      Promoted

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

    Want more? Compare all 87 term deposits in the Mozo comparison engine.

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