Your selected term deposits
4.75% p.a.
1 year
$1,000
Yes up to $250,000
Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)
Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)
Read our Mozo Review to learn more about the Rabobank Term Deposit
Your selected term deposits
4.80% p.a.
1 year
$5,000
Yes up to $250,000
No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.
No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.
Read our Mozo Review to learn more about the MyState Bank Online Term Deposit
Your selected term deposits
^See information about the Mozo Experts Choice Term deposits Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
If you have a long term savings goal, perhaps for a house or an overseas holiday, a 12 month term deposit is an efficient and easy way to help you get there.
Generally speaking, the longer the term deposit, the higher the interest rate. However the good news is that if you’re not prepared to lock your money away for more than 12 months, you should still be able to get a reasonable interest rate on a 12 month term deposit.
Most banks and credit munitions offer 12 month term deposits, so be sure to shop around to ensure you get the best rate possible.
Locking your savings away for a whole year may seem a little daunting. To make sure you're making the right decision, consider the pros and cons.
If you have a lump sum of cash that you won’t need to access for over a year, a 12 month term deposit is an effective and safe way to make some extra money.
It is important that you are sure you won’t need to access your money for at least 12 months because if you have to withdraw your money before the term deposit reaches maturity, you will most likely have to pay a penalty and you may also lose some if not all of the interest you would have otherwise earned.
A good way to ensure you won’t need to access your term deposit early is to make a budget. If you need help making a budget, check out our free budget calculator!
Interest can be paid monthly, quarterly, bi-annually, annually or on maturity. Discuss the options with your bank.
Usually via direct credit into your nominated account. In some cases the financial institution that holds your term deposit may pay the interest to another bank of your choice.
As many as you like, there's no limit.
The minimum and maximum amounts depend on the criteria set by each bank or financial institution. For example, a Commonwealth Bank term deposit has a minimum of $5,000 and a maximum of $1,999,999 and some banks allow you to open a term deposit with as little as $1,000. How much does it cost to open a term deposit?
It's free!
The financial institution can debit funds directly from your nominated bank account or you can transfer funds into a new term deposit
In most cases, the beauty of the online world allows you to open a term deposit with the click of a few buttons but you may have to visit branch
You can't make additional deposits until the term has ended
Yes but it will come at a cost! Do everything you can to avoid the early withdrawal penalty.
The Australian Government guarantees term deposits of up to $250,000 with Authorised Deposit-taking Institutions (ADIs) such as your bank, credit union or building society. So your pennies up to this amount are safe if anything unexpected happens to your ADI.
You can withdraw your money, rollover your funds for another term or reinvest your funds once you've found a higher interest rate.
I am extremely happy with my bank including service and products
Read full reviewI am extremely happy with my bank including service and products
I love this bank because of how l am treated
Read full reviewI love this bank because of how l am treated
I have always found this bank and its customer service to stand out. The staff I have dealt with have been knowladgeable,courteous and friendly and helpful. Very patient with all my many questions.
Read full reviewI have always found this bank and its customer service to stand out. The staff I have dealt with have been knowladgeable,courteous and friendly and helpful. Very patient with all my many questions.
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