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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  • Bendigo Bank Term Deposit review

    Overall rating   6 / 10
    Customer service is excellent.

    Customer service with Bendigo is excellent. Very helpful with any enquiries. Negative is the Term Deposit rates are very low.

    Price
    6 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Kerri, Victoria, reviewed 1 day ago
  • MyState Bank Term Deposit review

    Overall rating   9 / 10
    Friendly and professional service.

    Friendly and professional care and advice given when face to face in branch (Launceston). Easy to navigate their online services - in particular when setting up an online term deposit.

    Price
    9 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Christopher, Tasmania, reviewed about 1 month ago
  • BOQ Specialist Term Deposit review

    Overall rating   4 / 10
    Used to be a great bank

    I've banked with BOQ specialist bank in Sydney for decades. When they were owned and operated as Investec they were excellent, efficient and responsive to customer requirements. However over the past couple of years they seem to have no management control. Simple maturing fixed deposit transfer requests are ignored or misplaced. The Manager dealing with my accounts for multiple years advised last month he was too busy to handle my account and instead of allocating another relationship manager suggested that I should send future requests to their client service department. Sadly, upon requesting transfer of the next maturing deposit it took several international phone calls and 3 secure messages before anyone paid attention and resolved their internal issues. It seems the bank is in a shambles -

    Price
    3 / 10
    Features
    4 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    3 / 10
    Less
    Jon, Western Australia, reviewed about 1 month ago
  • ING Term Deposit review

    Overall rating   8 / 10
    Go orange with ING.

    Have been with ING for a while. They started off with very competitive rates for savings accounts however have cut the rates a few times as time goes on, still giving them the edge over other banks but making them slightly less appealing. They don't have a physical store and the wait times can be frustrating when you are on the phone trying to get something sorted so I normally just use the 'contact us' on the app and send an email query. The card is great to have for rebates when travelling as any fees you get charged will be credited back. Overall a good bank.

    Price
    8 / 10
    Features
    7 / 10
    Customer service
    8 / 10
    Convenience
    6 / 10
    Trust
    8 / 10
    Less
    Renee, Victoria, reviewed about 2 months ago
  • Bendigo Bank Term Deposit review

    Overall rating   1 / 10
    Half a star only

    The teller's are giving wrong information out and rude.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Ryan, Victoria, reviewed about 2 months ago
  • Bankwest Term Deposit review

    Overall rating   9 / 10
    Better bank than the main four.

    I have been banking with this bank for more than 20 years and wouldn't change it. It has competitive rates and they take good care of customers.

    Price
    8 / 10
    Features
    6 / 10
    Customer service
    10 / 10
    Convenience
    9 / 10
    Trust
    10 / 10
    Less
    Anna, Western Australia, reviewed 2 months ago
  • Westpac Term Deposit review

    Overall rating   8 / 10
    Great service for term depositors

    We have had a term deposit for many years. It has always been easy to re invest with this bank and customer service at my branch is exceptional. Obviously the interest rate is a little disappointing and I’d like to see some reward for reinvesting multiple times and also for the amoun of investment. Eg the more I put in my term deposit, the higher I’d like the rate to be. This is the case to some extent, but doesn’t go far enough in my opinion.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    9 / 10
    Less
    Sharon, Western Australia, reviewed 2 months ago
  • Commonwealth Bank Term Deposit review

    Overall rating   9 / 10
    Reliable, safe and trustworthy.

    Largest and most reliable during the pandemic.

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

    Overall rating   8 / 10
    Great product.

    I like the Progress Saver account as it makes me feel like I am getting paid to save.

    Price
    6 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    7 / 10
    Less
    Susan, Northern Territory, reviewed 2 months ago
  • Commonwealth Bank Term Deposit review

    Overall rating   7 / 10
    Reliable, but not competitive interest rates.

    Commonwealth Bank is reliable, and setup is straightforward for most accounts. However the interest rates are not that competitive.

    Price
    5 / 10
    Features
    6 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Rose, New South Wales, reviewed 2 months ago
  • ING Term Deposit review

    Overall rating   8 / 10
    Try them for the high interest rates.

    I like ING for term deposits because they always have the highest interest rate and are so secure and it is easy to use their online service. They are always up to date and advise of any changes.

    Price
    9 / 10
    Features
    8 / 10
    Customer service
    7 / 10
    Convenience
    10 / 10
    Trust
    8 / 10
    Less
    Norma, Western Australia, reviewed 2 months ago
  • NAB Term Deposit review

    Overall rating   8 / 10
    Big options at NAB.

    If you obtained the account or deposited money earlier, before all the banks' rates dropped, you would have accumulated big interest revenue.

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Davidj, Queensland, reviewed 2 months ago
  • Bankwest Term Deposit review

    Overall rating   10 / 10
    Bankwest has provided me with 20 years of service

    Reliable, efficient and trustworthy.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    David, Western Australia, reviewed 2 months ago
  • Bendigo Bank Term Deposit review

    Overall rating   10 / 10
    Bendigo Bank has a focus on the individual.

    I have found the level of personal service fantastic! They have never failed to contact me regarding either a concern with my account or offering advice, which benefits me not the bank. They offer a level of service to country areas that the bigger banks are neglecting and they encourage face to face banking - even in these times. Their products are comparable to other banks, however their link to the local community gives you a level of confidence that they are certainly interested in you as an individual.

    Price
    8 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Neil, Victoria, reviewed 3 months ago
  • ANZ Term Deposit review

    Overall rating   9 / 10
    Friendly well researched advice

    Always easy to contact and friendly advice.

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    Janina, Victoria, 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
      1.00% p.a.
      2 years
      Minimum deposit
      $5,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      0.75% p.a.
      6 months
      Minimum deposit
      $250,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Online Term Deposit

      interest rate
      0.90% p.a.
      1 year
      Minimum deposit
      $5,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      0.45% p.a.
      3 months
      Minimum deposit
      $10,000
      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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