Your selected term deposits
With longer-term deposits, there's no need to stash your cash away at home. Secure a 12-month fixed interest rate and increase your savings. Check out the rates below for comparison!
4.90% p.a.
1 year
$1,000
Yes up to $250,000
Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.
Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.
Read reviews and learn more about Judo Bank term deposits
Your selected term deposits
3.80% p.a.
1 year
$5,000
Yes up to $250,000
Grow your hard-earned savings with a P&N Bank Money Maker Term Deposit. Enjoy competitive, guaranteed fixed term rates. Interest paid at maturity for terms between 2 and 12 months. Interest rates may vary depending on the terms you select. Minimum amount of $5,000. Maximum amount of $1 million.
Grow your hard-earned savings with a P&N Bank Money Maker Term Deposit. Enjoy competitive, guaranteed fixed term rates. Interest paid at maturity for terms between 2 and 12 months. Interest rates may vary depending on the terms you select. Minimum amount of $5,000. Maximum amount of $1 million.
Read reviews and learn more about P&N Bank term deposits
Your selected term deposits
4.90% p.a.
1 year
$1,000
Yes up to $250,000
Apply digitally in minutes and manage your SMSF Term Deposit. Flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Choose from terms of 3 months up to 5 years. No application or monthly account fees but eligibility criteria and terms and conditions apply. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.
Apply digitally in minutes and manage your SMSF Term Deposit. Flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Choose from terms of 3 months up to 5 years. No application or monthly account fees but eligibility criteria and terms and conditions apply. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.
Your selected term deposits
4.50% p.a.
1 year
$5,000
Yes up to $250,000
Read reviews and learn more about Bendigo Bank term deposits
Your selected term deposits
5.10% p.a.
1 year
$25,000
Yes up to $250,000
Enjoy flexible terms starting from 31 days up to 5 years with a Heartland Bank Term Deposit. Get your interest paid monthly (on selected terms). Your savings are protected by the Government guarantee. Minimum deposit amount of $25,000 up to $1,000,000.
Enjoy flexible terms starting from 31 days up to 5 years with a Heartland Bank Term Deposit. Get your interest paid monthly (on selected terms). Your savings are protected by the Government guarantee. Minimum deposit amount of $25,000 up to $1,000,000.
Read reviews and learn more about Heartland Bank term deposits
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.
A year might seem like a long time to lock away your savings but rest assured, if you've done your homework, investing in a 12 month term deposit can be a great way to maximise your wealth. With a term deposit, the interest rate is guaranteed as long as you don’t have to access your money before the end of the chosen time period.
A 12 month term deposit is a fixed rate account where you agree to lock away your money for one year. In return, you receive a guaranteed interest rate. This account type with a 12 month period can be ideal for those with specific savings targets where money doesn’t need to be accessed for the next year.*
Whether you're saving for a house deposit, planning an overseas holiday, or building your emergency fund, a 12 month term deposit offers several advantages. You'll see a predictable growth in your cash due to the fixed interest nature of term deposits. This also helps you avoid the temptation to dip into your savings, otherwise you may see some or all of your interest go.*
While interest rates vary between financial institutions, 12 month term deposits generally offer competitive rates. These rates are often higher than shorter-term deposits and can even be higher than some long term deposits. This means your returns are guaranteed, regardless of market fluctuations. Remember, even a small difference in interest rate can significantly impact your returns over a year.*
Most major banks and credit unions offer 12 month term deposits. Comparing multiple providers can help you find the term deposits with the highest rates.
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.
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To get a more in depth view, check out our pros and cons of term deposits guide.
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. However, it is important that you’re sure you won’t need to access your money for at least 12 months.*
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.
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.
Not a very good interest rate on their term deposits compared with other banks
Read full reviewNot a very good interest rate on their term deposits compared with other banks
I have used the Heartland Bank for Tem deposit, I found them to be very respectful welcoming and they really cared by ensuring everything went well with my transactions . Any phone conversations I had with them always resulted in my complete satisfaction. I was very pleased with my interest rate results.
Read full reviewI have used the Heartland Bank for Tem deposit, I found them to be very respectful welcoming and they really cared by ensuring everything went well with my transactions . Any phone conversations I had with them always resulted in my complete satisfaction. I was very pleased with my interest rate results.
Like the bank but too many branches closing making it harder for senior people
Read full reviewLike the bank but too many branches closing making it harder for senior people
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Your selected term deposits