Term deposit customer 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 customer reviews

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  • AMP Bank Term Deposit

    AMP makes it impossible to become a customer.

    I've tried to open an account with AMP in the name of our SMSF but the application and instructions were terribly confusing. Spent hours on hold with their call centre twice. The first time the consultant couldn't answer my questions. The second time, a different consultant told me SMSFs were not permitted to open term deposits despite their website saying they could. She put me on hold so she could go check, and then the call was disconnected after 30 minutes of music. It's almost as if AMP doesn't want new customers. It's a pity since their advertised term deposit rates are the best in Australia. Terrible website, terrible application form, terrible explanation of how to apply, miserable call centre.

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    Dan, Queensland, reviewed about 11 hours ago
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  • AMP Bank Term Deposit

    Poor service from AMP

    I set up an online term deposit but they had a problem transferring the funds. They told me to contact them. This proved to be nearly impossible. I kept getting emails to say that I should contact them through their APP. However, they hadn't sent me an account number in order to do so. I tried to phone them. On one occasion I was waiting on the phone for over 90 minutes, another time over half an hour. I finally got through on a Sunday. The person showed no concern for my predicament and was very unfriendly. I concluded that AMP's service and staff selection and training was very poor and decided not to invest with them.

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    Deborah, Victoria, reviewed 4 months ago
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  • AMP Bank Term Deposit

    Useless customer service. Avoid

    I had trouble with AMP when as a lawyer I was after the held up the payment of superannuation to a deceased estate. I thought that the AMP bank may give better service. They will transfer money to themselves within hours of your application but then you cease to exist. Won’t answer your phone calls. No call back and an email response to phone them. Totally useless.

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    Greg, Victoria, reviewed 4 months ago
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  • Bendigo Bank Term Deposit

    These rates are poor

    Initially all of these products were excellent but with the change of rates we now don’t receive a good return as a loyal customer.

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    Grahame, Victoria, reviewed 5 months ago
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  • Rabobank Term Deposit

    A bank that I would never trust again

    Rabo threatened to block my account which I had for over 12 years if I did not provide a significant amount of extra information. The forms and requirements were onerous. I was left with no choice but to cancel my term deposit and pay an early termination fee. And withdraw all my funds before they froze my account. This bank is outrageous. They were happy with all the information I supplied 12 years ago but now they required significant additional information.

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    Mark, New South Wales, reviewed 5 months ago
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  • AMP Bank Term Deposit

    PATHETIC LACK OF CUSTOMER CARE.

    We placed funds into an AMP Bank Term Deposit weeks ago. While we received an email notifying us that they have received our funds, we have NOT yet received our account number! Without an account number, we can not register for internet banking, we can not check our balance, and check that all is ok. We cant even log in to raise a complaint. We have called numerous times and have had to hang up after 30 to 50 minutes wait to be answered. We sent an email, AMP responded by saying that we had to call them! - NONE of our calls have been answered. We emailed again 4 days ago, (received the auto reply that they had our email), but other than that, NO response.

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    Terry, Queensland, reviewed 5 months ago
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  • AMP Bank Term Deposit

    AMP BANK customer service failure

    On applying for a term deposit, this bank pointed me to their website to register for ongong information about my account. On going to their website, there was no way for new depositors to register because it required info held only by the bank. After waiting 29 mins for a bank representative to explain why I could`nt register, I was told verbally that it was not possible to register for 48hrs. I questioned why the website did`nt say that ? The rep indicated on the `phone that the wording "registration not available for 48 hours" was on their website. It was not. Wanting access to info on my account and seeking sign of the banks integrity in allowing instant registration, I complained. Days later, I received a phone call by a bank representative who went to some trouble to explain to me why it was `nt possible to register. However, my complant was about why the wording " not available for 48 hours"...was absent from their website. My complaint was not about the internal reason why the bank did`nt allow registration. I am the client, not the bank. The Bank persisted in telling me why the wording was not used. I re-iterated that the wording was not only absent, but a web explanation as to its absence to depositors was also absent. I pointed out that a new depositor wants to feel secure about their deposit. I indicated again, that their rep had told me verbally, on the `phone, that their website had the wording. It did not. I asked the representtative dealing with my complaint if the warning wording had now been placed on their website for new investors at their welcome page, so they could feel secure. The rep indicated that they had not fixed the error ! I expressed exasperation at the banks fundamental ignorance of new customer needs. Later, I received an email essentially composed to show process, ie, that AMP had dealt with my complaint. It had not. Their response was unsatisfactory. The website error of omission remains. Being unable to register, and not being told why.... causes new depositors to feel insecure about their deposit, rendering the banks integrity questionable. If on making a deposit, a new customer cannot register to see their deposit, it makes them feel insecure. AMP bank is oblivious to this point. I recommend to those seeking to make term deposits, that they avoid AMP Bank. They are ignorant of basic customer needs, even devious.. Customer focus, clarity and openess are not in their DNA. Any wonder AMP is failing.

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    Rupert, New South Wales, reviewed 6 months ago
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  • ANZ Term Deposit

    Disgusting service

    My parents have banked with ANZ for over 50 years. When it came time to withdraw from term deposit to pay for nursing home fees which we had documentation to prove, I was transferred from person to person, insulted with statements about why the money was needed and ultimately funds not released after spending hours on the phone and in branch. Problem being transferring funds to an existing passbook account which the bank has decided should no longer exist. Disgusting service, no empathy - give over the money!

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    Alison, New South Wales, reviewed 5 months ago
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  • Judo Bank Term Deposit

    Wake up Australians - this is a BIG mistake REALLY

    After failing to secure a account online, I emailed customer services, they were unhelpful and blunt.... you MUST have a mobile phone.... I do not need or own a mobile phone I am computer savvy and use a PC for all my services and transactions since 1985. Before your precious cell phones existed. A secure fire wall protects me on my PC, nothing protects your data on a cell phone and the airwaves. As the advertised interest rate was the best available I eventually decided to obtain a "smart phone" (even though it was mainly useless to me (deaf)) and try to invest a $250,000 parcel with this so called bank for a couple of years..... Again this was a BIG fail as online services failed on 2 occasions to recognise my CORRECT data of licence and medicare values . I at this point paused the input and this was yesterday. Today I am writing this review in hope that enough people will read it to GET THE WARNING... stay away from this institution, do NOT believe in the false ratings of CANSTAR they have to be on their payroll..... It is too obvious that they want your details to try to hack your original bank accounts or worse.... your identity... - Be warned. They will not be getting my investment.

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    Jim, New South Wales, reviewed 10 months ago
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  • People's Choice Term Deposit

    The years ahead will see massive bankrupcies.

    Not just this bank but all banks as far as interest on principal is concerned. All my life I have paid interest on mortgages ect at rates far in excees of interest rates now. Now when I need to live on my interest on my term deposits I can't. The Reserve Bank is bowing to pressure from Government and the new generations coming through to support their high-end like styles and bugger the rest. All this 'must have now' attitude is killing this country. We had to scrimp and save to buy things that the generation now are not prepared to wait and save for. Way things are going it is making it so easy for countries like Chine to come in and take over our country without the majority of people realising it. As hard as it was liveing through the higher interest rate periods I still think I and oy=thers of my age lived through the best of times and i feel sorry for the people who will wake up with huge debts when interest rates eventuall go up again albeit though not in my life time. So I dislike all the major banks as they are the main cause of our prblems now.

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    Colin, South Australia, reviewed 11 months ago
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  • ANZ Term Deposit

    Great services

    The bank is doing great in its customer service with great efficiency and communication. I highly recommend the employees called Joe (maybe I spell wrongly) and Alexander.

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    Jackson, Victoria, reviewed about 1 year ago
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  • Judo Bank Term Deposit

    Discriminatory to customers or potential customers

    This bank is discriminatory against anyone who chooses not to own a mobile phone or is deaf as myself and cannot use a mobile phone. I find it unacceptable as email and a landline (wife) options are open to present codes for identification and are used (email) for past decade by my current banks. I would not be even bothering commenting on this so called bank if it were not for the interest rate being offered at this time.

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    Jim, New South Wales, reviewed about 1 year ago
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  • Judo Bank Term Deposit

    Excellent service.

    This bank gave the best interest rates for my term deposits. It was very easy to join. Unfortunately interest rates have fallen but Judo give the best rates that I can find.

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    Jacqueline, Queensland, reviewed about 1 year ago
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  • Great Southern Bank Term Deposit

    Beware of CUA.

    I was recently with CUA as I was extremely hopeful that it would be a good bank to deal with, but after a week I left and was charged $20 after 5 days being with them. I was first told I'd receive a certain rate over the phone by a saleswoman, so it took me a day to transfer everything into CUA. Then the next day I spoke to another person and they had no records that I spoke to someone, even though I presented screenshots of my mobile that I spoke to someone there - they didn't believe me. Then they said they had to investigate and both phone service person, online and a bank manager told me they'd get back to me the next day. After 2 days of calling, leaving messages. A 2nd person got back to me but it was too late, I received a better rate from another bank and then decided to leave after 4 days of being run around. I was unfortunately charged $20 for being with them under 5 days.

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    Jo, New South Wales, reviewed about 1 year ago
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  • ANZ Term Deposit

    Amazing

    I love this bank as they care about their customers and have a wide variety of banking products

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    Christelle, Western Australia, reviewed about 1 year ago
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  • 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

    • Term Deposit

      interest rate
      3.40% p.a.
      2 years
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      3.00% p.a.
      2 years
      Minimum deposit
      $5,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      0.65% p.a.
      3 months
      Minimum deposit
      $10,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • 12 Month Term Deposit Special

      interest rate
      1.50% p.a.
      1 year
      Minimum deposit
      $100,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      2.70% p.a.
      1 year
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted

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

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