12 Month Term Deposit Rates Compared
Unimpressed by the stormy investment seas? Don’t put your cash under the mattress - make it work hard for you with a high interest term deposit. After all, where interest is concerned more is more.
Read moreUnimpressed by the stormy investment seas? Don’t put your cash under the mattress - make it work hard for you with a high interest term deposit. After all, where interest is concerned more is more.
Read moreAfter your term deposit period is finished you’ll be able to access your money and the interest you’ve earned. At this point,you could sign up again for another term deposit, transfer the cash into other investments or just spend it and enjoy your interest earnings. Some banks will also give you the option of automatic rollovers so you can continue to receive high interest until you make up your mind. Want more info? Check out our guide, Term Deposit Features.
It sure does! Interest is usually calculated daily, so the sooner that money is yours (ie the more frequently you’re paid) the sooner it can be in your account working hard for you and earning you more interest. Do pay attention to the payment frequency as it can really add up! Spot the difference that payment frequency will make with our term deposit calculator.
It’s really simple to do just like opening a bank account. Once you’ve found the best bank term deposit that best suits your needs simply click the ’go to site’ button and you’ll be guided through an easy online application.
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Invest in highly rated Australian bonds. *Total Return for the 8 years to 30 September 2019 and 6.05% p.a. since inception on 29 March 2011. Past performance is not indicative of future performance. The fund is not a bank or term deposit.
Page last updated November 16, 2019
Promoted
2.00% p.a.
1 year
$1,000
Safe & Rewarding: Great rates and incentives incl. 0.10% added loyalty bonus and while Judo Bank Term Deposits work for you, they work for Aussie businesses too. All eligible deposits you have with Judo Bank up to $250,000, are guaranteed by the Australian Government under the Financial Claims Scheme.
$1,000,000.00
yes
yes
Read our Mozo Review to learn more about the Judo Bank Term Deposit
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Promoted
1.60% p.a.
1 year
$1,000
No fees whatsoever. Choice of a 1, 3, 4, 6, 9 or 12-month term for deposits from $1,000 - $2 million
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Want more? Compare all 85 term deposits in the Mozo comparison engine.
Search now^See information about the Mozo Experts Choice Awards for Term Deposits
Promoted
UBank
USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
$0.00
Promoted
MyState Bank
Bonus Saver Account
2.25% p.a. (for $0 to $150,000)
0.55% p.a.(for $0 and over)
$0.00
Promoted
Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
$0.00
Promoted
AMP
Saver Account
2.36% p.a. (for $0 to $250,000)
1.40% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Rabobank
High Interest Savings Account
2.50% p.a. (for $0 to $250,001)
1.05% p.a.(for $0 to $250,001)
$0.00
Promoted
ANZ
Online Saver
1.60% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
$0.00
Promoted
Citi
Online Saver
2.30% p.a. (for $0 to $500,000)
0.85% p.a.(for $0 and over)
$0.00
Promoted
UBank
USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
$0.00
Promoted
AMP
Saver Account
2.36% p.a. (for $0 to $250,000)
1.40% p.a.(for $0 to $5,000,000)
$0.00
Promoted
MyState Bank
Bonus Saver Account
2.25% p.a. (for $0 to $150,000)
0.55% p.a.(for $0 and over)
$0.00
Promoted
Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
$0.00
Promoted
Rabobank
High Interest Savings Account
2.50% p.a. (for $0 to $250,001)
1.05% p.a.(for $0 to $250,001)
$0.00
Promoted
ANZ
Online Saver
1.60% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
$0.00
Promoted
Citi
Online Saver
2.30% p.a. (for $0 to $500,000)
0.85% p.a.(for $0 and over)
$0.00
Promoted
UBank
USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
Promoted
MyState Bank
Bonus Saver Account
2.25% p.a. (for $0 to $150,000)
0.55% p.a.(for $0 and over)
Promoted
AMP
Saver Account
2.36% p.a. (for $0 to $250,000)
1.40% p.a.(for $0 to $5,000,000)
Promoted
Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
Promoted
Rabobank
High Interest Savings Account
2.50% p.a. (for $0 to $250,001)
1.05% p.a.(for $0 to $250,001)
Promoted
Citi
Online Saver
2.30% p.a. (for $0 to $500,000)
0.85% p.a.(for $0 and over)
Reviews, news, tips and guides to help find the best term deposit for you.
A year might seem like a very long time but rest assured, if you've done your homework, investing in a 12 month term deposit can work in your favour to maximise your wealth. A term deposit is where the interest rate is guaranteed not to change therefore your savings grow over the year. If you have a long term savings goal perhaps for a house or an overseas holiday, a 12 month term deposit is a good way to achieve those financial ambitions.
Locking your savings away for a whole year may seem a little daunting, as a lot can happen in 12 months with the market and your personal financial situation. So take the time to consider the following features before taking the leap into the world of term deposits.
Do you have a large amount of cash you're not sure what to do with? Are you someone that doesn't like taking risks and would rather take a conservative approach when it comes to money? If so, a 1 year term deposit may just suit you and your savings.
Fair enough though if you feel a little scared at the thought of opening up a one year term deposit, especially given you can't access the funds over the term without penalties. So it's important to do a budget that ensures you can survive a year without the funds in your term deposit. Also make sure you have an emergency stash of cash to avoid penalties for dipping into the deposit before maturity.
Crunch some numbers in the Mozo savings goal 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.
A minimum of $1000.
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.
Withdrawal your money and go on a shopping spree, rollover your funds for another term or reinvest your funds once you've found a higher interest rate.
I have term deposits with the bank and at maturity they can always match the current interest...
Read 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.
Less
Ferida | South Australia
reviewed about 17 hours ago
Bank is easily accessible and have friendly staff.
Read full review
Bank is easily accessible and have friendly staff.
Less
Shirley | New South Wales
reviewed 5 days ago
I opened a term deposit some time ago and when it came up for renewal they were able to offer a...
Read 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.
Less
Linda | Victoria
reviewed 8 days ago
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