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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   10 / 10

Great to deal with.

Investing my money in a safe and secure way is my number one priority. A Term Deposit was the obvious choice. The bank I chose is the one that I have been dealing with for a number of years. They always obtain the best interest rate for me and...

Full review

Investing my money in a safe and secure way is my number one priority. A Term Deposit was the obvious choice. The bank I chose is the one that I have been dealing with for a number of years. They always obtain the best interest rate for me and will remind me when the term that I selected previously is nearly due. I don't need to book an appointment to see the clerk and the staff are always very friendly and helpful.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Robyn, Queensland, reviewed 1 day ago

Westpac

Westpac Term Deposit review

Overall rating   10 / 10

Great service.

Great service, would recommend.

Full review

Great service, would recommend.

    Price   10 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Angela, Victoria, reviewed 1 day ago

ANZ

ANZ Term Deposit review

Overall rating   10 / 10

I totally trust them.

ANZ what a bank. Totally trust them with my money and banking details. A totally worthy bank to bank with.

Full review

ANZ what a bank. Totally trust them with my money and banking details. A totally worthy bank to bank with.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lyn, Victoria, reviewed 8 days ago

Westpac

Westpac Term Deposit review

Overall rating   8 / 10

Not bad.

Not enough interest on term deposit.

Full review

Not enough interest on term deposit.

    Features   5 / 10

    Customer service   7 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Colin, Victoria, reviewed 12 days ago

ING

ING Term Deposit review

Overall rating   9 / 10

Great interest rates and simple.

I love ING! I have never had a problem with them. The term deposit is super convenient for me and they had really competitive interest rates.

Full review

I love ING! I have never had a problem with them. The term deposit is super convenient for me and they had really competitive interest rates.

    Price   6 / 10

    Features   4 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Natasha, Queensland, reviewed 15 days ago

UBank

UBank Term Deposit review

Overall rating   8 / 10

Great rates, but everything has to be done online.

Great rates, but everything has to be done online.

Full review

Great rates, but everything has to be done online.

    Price   10 / 10

    Features   7 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   9 / 10

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Roman, Victoria, reviewed 17 days ago

Westpac

Westpac Term Deposit review

Overall rating   7 / 10

Not the best interest rates.

Good customer service from local branch manager.

Full review

Good customer service from local branch manager.

    Price   4 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Karen, South Australia, reviewed 18 days ago

Commonwealth Bank

Commonwealth Bank Term Deposit review

Overall rating   9 / 10

Competitive rates and excellent customer service.

This bank provided the highest rate possible for the length of time I wanted it to and it gives a very good return so I was happy. Just like everything, read the paperwork and make sure you understand it fully as bank jargon can be tricky to...

Full review

This bank provided the highest rate possible for the length of time I wanted it to and it gives a very good return so I was happy. Just like everything, read the paperwork and make sure you understand it fully as bank jargon can be tricky to comprehend at times.

    Price   9 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

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Roseann, Victoria, reviewed 19 days ago

Bendigo Bank

Bendigo Bank Term Deposit review

Overall rating   10 / 10

Great company and service

I have term deposits with the bank and at maturity they can always match the current interest rates with other banks and always make the customer happy.

Full review

I have term deposits with the bank and at maturity they can always match the current interest rates with other banks and always make the customer happy.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Ferida, South Australia, reviewed 22 days ago

St.George

St.George Term Deposit review

Overall rating   5 / 10

Competitive.

Bank is easily accessible and have friendly staff.

Full review

Bank is easily accessible and have friendly staff.

    Price   5 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Shirley, New South Wales, reviewed 26 days ago

Bendigo Bank

Bendigo Bank Term Deposit review

Overall rating   10 / 10

Good rates and great customer service.

I opened a term deposit some time ago and when it came up for renewal they were able to offer a special interest rate that was higher than want was sent to me in the mail. Was pleased with the staff for telling me about it and giving me the best...

Full review

I opened a term deposit some time ago and when it came up for renewal they were able to offer a special interest rate that was higher than want was sent to me in the mail. Was pleased with the staff for telling me about it and giving me the best rate possible. It is up for renewal again in December and hope they can again give me a good rate. I like that I can drive 5 minutes or walk 15 minutes to a branch to discuss in person, and they fill all the details out for me.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Linda, Victoria, reviewed 29 days ago

BankSA

BankSA Term Deposit review

Overall rating   10 / 10

It's very good.

I would recommend BankSA more than any other bank.

Full review

I would recommend BankSA more than any other bank.

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Tom, South Australia, reviewed 30 days ago

Qudos Bank

Qudos Bank Term Deposit review

Overall rating   7 / 10

Always helpful.

Its a great bank with great service.

Full review

Its a great bank with great service.

    Price   8 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   10 / 10

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Gail, Western Australia, reviewed 30 days ago

ME

ME Term Deposit review

Overall rating   7 / 10

Good.

Best interest rate.

Full review

Best interest rate.

    Price   10 / 10

    Features   5 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   6 / 10

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Peter, Victoria, reviewed about 1 month ago

BankSA

BankSA Term Deposit review

Overall rating   7 / 10

Great service but needs to be more competitive.

Not the most competitive term deposit rates available. Good customer service and access to Branches & ATMs.

Full review

Not the most competitive term deposit rates available. Good customer service and access to Branches & ATMs.

    Price   6 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

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Eric, South Australia, reviewed about 1 month ago

Commonwealth Bank

Commonwealth Bank Term Deposit review

Overall rating   1 / 10

Disappointed with their lack of competition.

They are not at all competitive with their rates. We used to use them 4-5 years ago, and even when we showed how much better competitor rates where, they wouldn't match them so we went to other institutions that provided good rates.

Full review

They are not at all competitive with their rates. We used to use them 4-5 years ago, and even when we showed how much better competitor rates where, they wouldn't match them so we went to other institutions that provided good rates.

    Price   0 / 10

    Features   0 / 10

    Customer service   3 / 10

    Convenience   7 / 10

    Trust   3 / 10

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Peter, Western Australia, reviewed about 1 month ago

Bank of Queensland

Bank of Queensland Term Deposit review

Overall rating   5 / 10

Customer loyalty is not rewarded

I have been a customer at this Bank for many years and hold a decent amount of money there and I have never owed anyone a single cent but when I wanted a credit card they would not give me one saying that my income was insufficient. I hold a...

Full review

I have been a customer at this Bank for many years and hold a decent amount of money there and I have never owed anyone a single cent but when I wanted a credit card they would not give me one saying that my income was insufficient. I hold a credit card with another bank and I have never paid interest as I pay it off in full each month.

    Price   4 / 10

    Features   2 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   5 / 10

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Katrina, Queensland, reviewed about 1 month ago

MCU (Maleny Credit Union)

MCU (Maleny Credit Union) Term Deposit review

Overall rating   9 / 10

A local bank that actually cares for its customers

It is a breath of fresh air to find a bank where the customers are treated as though they belong and not just a number to the bottom line and the companies shareholders. I moved my funds to a term deposit with MCU because the bigger banks simply...

Full review

It is a breath of fresh air to find a bank where the customers are treated as though they belong and not just a number to the bottom line and the companies shareholders. I moved my funds to a term deposit with MCU because the bigger banks simply did not care and most of their branches close to me had closed making a face to face enquiry impossible. MCU were offering term deposit rates far above the bigger banks and all I had to do was go into the branch and talk to someone, my account was setup and my funds transferred in an instant.

    Price   10 / 10

    Features   0 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Julian, Queensland, reviewed about 1 month ago

Commonwealth Bank

Commonwealth Bank Term Deposit review

Overall rating   7 / 10

Pretty standard

It's a pretty standard offering. I would like more communication when the term is maturing. That would be good.

Full review

It's a pretty standard offering. I would like more communication when the term is maturing. That would be good.

    Price   7 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   7 / 10

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Chris, Western Australia, reviewed about 1 month ago

Regional Australia Bank

Regional Australia Bank Term Deposit review

Overall rating   8 / 10

Great staff and easy to use!

Staff are friendly and knowledgeable. Branch is easy to access and it's easy to get in contact with them. They are one of the few who are sympathetic to aged people.

Full review

Staff are friendly and knowledgeable. Branch is easy to access and it's easy to get in contact with them. They are one of the few who are sympathetic to aged people.

    Price   10 / 10

    Features   0 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Edith, New South Wales, reviewed about 2 months ago

IMB Bank

IMB Bank Term Deposit review

Overall rating   10 / 10

All OK - a great Bank!

This bank started out as a Building Society, and became a Bank after getting more and more of what it needed. I'm been with them all along, since I live in the greater Wollongong area. They are great!

Full review

This bank started out as a Building Society, and became a Bank after getting more and more of what it needed. I'm been with them all along, since I live in the greater Wollongong area. They are great!

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Sharon, New South Wales, reviewed about 2 months ago

Westpac

Westpac Term Deposit review

Overall rating   10 / 10

Very poor interest rates

Poor interest rates hardly worth it when you take inflation into account.

Full review

Poor interest rates hardly worth it when you take inflation into account.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Barry, Queensland, reviewed about 2 months ago

Westpac

Westpac Choice Choice review

Overall rating   10 / 10

Great customer service staff

The branch staff are friendly and keen to provide top service. I have a substantial amount on a term deposit which recently matured. To help me, the branch manager referred the matter to the appropriate person in Head Office seeking a better...

Full review

The branch staff are friendly and keen to provide top service. I have a substantial amount on a term deposit which recently matured. To help me, the branch manager referred the matter to the appropriate person in Head Office seeking a better interest rate than that advertised. As a result I was offered a rate 0.3% above the advertised rate for a 12 month term.

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Barrie, New South Wales, reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank Term Deposit review

Overall rating   9 / 10

Always doing there best.

I am very happy banking with Commonwealth. I had a few scares here and there but the took over and handled everything, much to my admiration. Everything was fixed in no time. They are always willing to offer good advice. Just wanted to give a big...

Full review

I am very happy banking with Commonwealth. I had a few scares here and there but the took over and handled everything, much to my admiration. Everything was fixed in no time. They are always willing to offer good advice. Just wanted to give a big thanks to Commonwealth.

    Price   8 / 10

    Features   5 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Pauline, Tasmania, reviewed 3 months ago

NAB

NAB Term Deposit review

Overall rating   6 / 10

Questionable security

I have had a few security issues with my Term Deposit.

Full review

I have had a few security issues with my Term Deposit.

    Price   6 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

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Fiona, Western Australia, 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

  • Judo Bank Term Deposit

    Judo Bank Term Deposit

    interest rate*

    2.00% p.a.
    6 months

    Minimum deposit

    $1,000

    Go to site

    More info

    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Need more information?
    Go to site

    More info

  • Citi Term Deposit Special

    Citi Term Deposit Special

    • Competitive rates for new to bank funds
    • $0 Setup and account-keeping fees
    • Guaranteed interest rate

    interest rate*

    2.00% p.a.
    3 months

    Minimum deposit

    $250,000

    Go to site

    More info

    • Competitive rates for new to bank funds
    • $0 Setup and account-keeping fees
    • Guaranteed interest rate
    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    6.7

    Based on 15 Citi term deposit reviews

    Need more information?
    Go to site

    More info

  • Judo Bank Term Deposit

    Judo Bank Term Deposit

    interest rate*

    2.50% p.a.
    5 years

    Minimum deposit

    $1,000

    Go to site

    More info

    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Need more information?
    Go to site

    More info

  • ANZ Advance Notice Term Deposit

    ANZ Advance Notice Term Deposit

    interest rate*

    1.60% p.a.
    7 months

    Minimum deposit

    $5,000

    Go to site

    More info

    • Maximum deposit: $99,999
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    7.2

    Based on 510 ANZ term deposit reviews

    Need more information?
    Go to site

    More info

  • UBank Green Term Deposit

    UBank Green Term Deposit

    • No fees whatsoever
    • Choice of a 2, 5, 7, 8, 10 ,11-month term for deposits from $1,000 - $2 million
    • Quick and easy account opening process

    interest rate*

    1.60% p.a.
    5 months

    Minimum deposit

    $1,000

    Go to site

    More info

    • No fees whatsoever
    • Choice of a 2, 5, 7, 8, 10 ,11-month term for deposits from $1,000 - $2 million
    • Quick and easy account opening process
    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: Yes
    • Automatic rollover: Yes
    Overall rating

    8.3

    Based on 101 UBank term deposit reviews

    Need more information?
    Go to site

    More info

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

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