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

Interest rates are not competitive

I like the staff, very friendly and always helpful. Better than other banks I have done business with.
Full review

I like the staff, very friendly and always helpful. Better than other banks I have done business with.

    Price   2 / 10

    Features   5 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Ross (WA), reviewed about 1 month ago

Westpac

Westpac term deposit review

Overall rating   7 / 10

Good customer service

Seamless banking between accounts.
Full review

Seamless banking between accounts.

    Price   6 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

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Diane (NSW), reviewed about 1 month ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   9 / 10

Good customer service

Good interest
Full review

Good interest

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Eileen (NSW), reviewed about 1 month ago

St.George

St.George term deposit review

Overall rating   7 / 10

Friendly and courteous customer service

I like this bank because of the follkowing positive attributes: Courtesy, convenience, customer service
Full review

I like this bank because of the follkowing positive attributes: Courtesy, convenience, customer service

    Price   2 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

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Don (NSW), reviewed about 1 month ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Helpful and good service at a branch level.

Generally happy with service and products. Need to negotiate for better rates rather than being offered. Are not particularly flexible on product range. Customer loyalty can be taken for granted. Branch service is good and helpful.
Full review

Generally happy with service and products. Need to negotiate for better rates rather than being offered. Are not particularly flexible on product range. Customer loyalty can be taken for granted. Branch service is good and helpful.

    Price   6 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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David (NSW), reviewed about 1 month ago

Bendigo Bank

Bendigo Bank term deposit review

Overall rating   10 / 10

Great customer service & friendly staff

The Bendigo Bank is a smaller more friendly bank, the staff are knowable, their product & services are superior to any larger bank I have ever used
Full review

The Bendigo Bank is a smaller more friendly bank, the staff are knowable, their product & services are superior to any larger bank I have ever used

    Price   9 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Neil (TAS), reviewed about 2 months ago

Heritage Bank

Heritage Bank term deposit review

Overall rating   9 / 10

Great customer service

Service is A1, all the staff and management are friendly, nothing is a problem. Will ring a few times during the year to ask if we a happy with their service etc.
Full review

Service is A1, all the staff and management are friendly, nothing is a problem. Will ring a few times during the year to ask if we a happy with their service etc.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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C. (QLD), reviewed about 2 months ago

ANZ

ANZ term deposit review

Overall rating   9 / 10

See above.

I have been with the ANZ bank for 25 years and have always been satisfied with the service I have received. The staff have always been polite and helpful.
Full review

I have been with the ANZ bank for 25 years and have always been satisfied with the service I have received. The staff have always been polite and helpful.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Jon (WA), reviewed about 2 months ago

Goldfields Credit Union

Goldfields Credit Union term deposit review

Overall rating   10 / 10

Great rates and excellent customer service

I love this bank. The staff are friendly, helpful and knowledgable.
Full review

I love this bank. The staff are friendly, helpful and knowledgable.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Susan (WA), reviewed about 2 months ago

Bank of Queensland

Bank of Queensland term deposit review

Overall rating   10 / 10

Just loving it

Love the no monthly fees
Full review

Love the no monthly fees

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Daniel (QLD), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Friendly staff

I always get good customer service and the staff are always friendly even though some of my requirements are time consuming.
Full review

I always get good customer service and the staff are always friendly even though some of my requirements are time consuming.

    Price   3 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Peter (QLD), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   4 / 10

CBA exploit their loyal customers!

Rates paid on term deposits keep going lower despite CBA continually making record profits. Had to threaten to withdraw money to get better rate than originally offered and still below rate paid on previous term deposit.
Full review

Rates paid on term deposits keep going lower despite CBA continually making record profits. Had to threaten to withdraw money to get better rate than originally offered and still below rate paid on previous term deposit.

    Price   3 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   4 / 10

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Ayesha (NSW), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   6 / 10

Don't recommend

I love the idea of a term deposit but it's inconvenient that you can't contribute money to the account once you have started the term deposit and that you have to have 5000 saved before you can open it
Full review

I love the idea of a term deposit but it's inconvenient that you can't contribute money to the account once you have started the term deposit and that you have to have 5000 saved before you can open it

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   3 / 10

    Trust   10 / 10

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Haily (WA), reviewed about 2 months ago

Bendigo Bank

Bendigo Bank term deposit review

Overall rating   8 / 10

Would never change banks.

I love the hours bendigo bank have. Just wish there was more of them around ! Few and far apart .
Full review

I love the hours bendigo bank have. Just wish there was more of them around ! Few and far apart .

    Price   6 / 10

    Features   6 / 10

    Customer service   4 / 10

    Convenience   8 / 10

    Trust   7 / 10

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Susan (SA), reviewed about 2 months ago

Bendigo Bank

Bendigo Bank term deposit review

Overall rating   8 / 10

Great local customer service

They do their best to be helpful even when interest rates are so low
Full review

They do their best to be helpful even when interest rates are so low

    Price   3 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   8 / 10

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Lynne (VIC), reviewed about 2 months ago

MyState

MyState term deposit review

Overall rating   6 / 10

15

Thanks they are a good banks
Full review

Thanks they are a good banks

    Price   5 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   7 / 10

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Jeremy (TAS), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Term rates terrible

Rates terrible, staff friendly
Full review

Rates terrible, staff friendly

    Price   3 / 10

    Features   2 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   8 / 10

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Fran (QLD), reviewed 2 months ago

ING DIRECT

ING DIRECT term deposit review

Overall rating   8 / 10

Competitive

Always ready to help and advise you.
Full review

Always ready to help and advise you.

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   7 / 10

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Tiny (VIC), reviewed 2 months ago

Bankwest

Bankwest term deposit review

Overall rating   10 / 10

Customer service outstanding

Love banking with BankWest if i need to change or add anything they are always there to help very friendly and helpful
Full review

Love banking with BankWest if i need to change or add anything they are always there to help very friendly and helpful

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Rosemary (TAS), reviewed 3 months ago

NAB

NAB term deposit review

Overall rating   5 / 10

Great customer service

Great friendly service but have you have to go into the bank each time to roll over a term deposit
Full review

Great friendly service but have you have to go into the bank each time to roll over a term deposit

    Price   5 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   5 / 10

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Deb (VIC), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   2 / 10

Could be better

I have been a customer of this bank for many years. Now that my husband and I are retired it doesn't offer good investment opportunities for retirees.
Full review

I have been a customer of this bank for many years. Now that my husband and I are retired it doesn't offer good investment opportunities for retirees.

    Price   2 / 10

    Features   2 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   3 / 10

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Lilly (NSW), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Great interest rates and exemplary customer care.

I find the commonwealth bank's service fast and efficient and the customer reps are always very helpful and courteous. They always remind me when I need to pay a bill and they give me an extension if I need one.
Full review

I find the commonwealth bank's service fast and efficient and the customer reps are always very helpful and courteous. They always remind me when I need to pay a bill and they give me an extension if I need one.

    Price   9 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   7 / 10

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Leanne (VIC), reviewed 3 months ago

NAB

NAB term deposit review

Overall rating   7 / 10

Good as bank but I'd go elsewhere for management.

Customer service is OK, but they don't go out of their way for you. Term deposits are a good idea but if you have to call on funds for an emergency then look elsewhere because NAB drags it out as long as they can.
Full review

Customer service is OK, but they don't go out of their way for you. Term deposits are a good idea but if you have to call on funds for an emergency then look elsewhere because NAB drags it out as long as they can.

    Price   5 / 10

    Features   7 / 10

    Customer service   4 / 10

    Convenience   7 / 10

    Trust   7 / 10

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Paul (NSW), reviewed 3 months ago

Bankwest

Bankwest term deposit review

Overall rating   8 / 10

Competitive interest rates

I like this bank because living in rural W.A. it is convenient, staff are friendly and helpful and although I would like a better interest rate on my money, I accept that it is just as good as any other bank.
Full review

I like this bank because living in rural W.A. it is convenient, staff are friendly and helpful and although I would like a better interest rate on my money, I accept that it is just as good as any other bank.

    Price   7 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

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Lynne (WA), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   7 / 10

Convenient!

I like this bank because theres lots of branches available. You also can easily open another account online. Very good customer service too.
Full review

I like this bank because theres lots of branches available. You also can easily open another account online. Very good customer service too.

    Price   6 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Veronica (VIC), reviewed 3 months ago

Term deposit comparisons on Mozo Rates updated daily

  • ME Term Deposit

    ME Term Deposit

    • Savings Bank of the Year 2016
    • Choose a term from 1 month to 5 years
    • Apply online in minutes. No account keeping fees

    interest rate*

    3.30%
    6 months

    Go to site

    More info

    • Savings Bank of the Year 2016
    • Choose a term from 1 month to 5 years
    • Apply online in minutes. No account keeping fees
    • 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

  • Intech Credit Union Term Deposit

    Intech Credit Union Term Deposit

    • High interest rate
    • Interest paid monthly or at maturity
    • $50,000 minimum deposit

    interest rate*

    3.10%
    7 months

    Go to site

    More info

    • High interest rate
    • Interest paid monthly or at maturity
    • $50,000 minimum deposit
    • Minimum deposit: $50,000
    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Need more information?
    Go to site

    More info

  • ME Term Deposit

    ME Term Deposit

    • Savings Bank of the Year 2016
    • Choose a term from 1 month to 5 years
    • Apply online in minutes. No account keeping fees

    interest rate*

    3.05%
    1 year

    Go to site

    More info

    • Savings Bank of the Year 2016
    • Choose a term from 1 month to 5 years
    • Apply online in minutes. No account keeping fees
    • 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

  • Australian Military Bank Term Deposit

    Australian Military Bank Term Deposit

    • Available for a limited time only
    • Low, $1,000 minimum
    • Simple, online application

    interest rate*

    3.05%
    4 months

    Go to site

    More info

    • Available for a limited time only
    • Low, $1,000 minimum
    • Simple, online application
    • Minimum deposit: $1,000
    • Maximum deposit: $249,999
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    5.3

    Based on 12 Australian Military Bank term deposit reviews

    Need more information?
    Go to site

    More info

  • Bank of Queensland Premier Investment

    Bank of Queensland Premier Investment

    • No account keeping or transaction fees
    • Competitive interest rates
    • Wide choice of terms

    interest rate*

    2.95%
    6 months

    Go to site

    More info

    • No account keeping or transaction fees
    • Competitive interest rates
    • Wide choice of terms
    • Minimum deposit: $5,000
    • Maximum deposit: $249,999
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.9

    Based on 49 Bank of Queensland term deposit reviews

    Need more information?
    Go to site

    More info

  Compare

Want more? Compare all 72 term deposits in the Mozo comparison engine.

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

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