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2 year term deposits

  • If you've got long term goals (like buying a house) and you're starting to accumulate some serious cash, a two year high interest earning term deposit can help you grow your savings faster and keep your nest egg safely out of temptations reach.

  • How long will it take me to save enough to put a deposit on my first home?

    The time it takes to save for a deposit on your first home varies person to person based on how much you can comfortably put aside each week, and how disciplined you are about not touching those savings. Give our savings calculator a spin to see how soon you'll be ready to buy your first home, and find out how to save more with our budget calculator.

  • What happens if I need to get my money out sooner?

    Think carefully before pulling your money out of a term deposit prematurely and subjecting yourself to term deposit 'break fees' they could cost you between 40% and all of your interest earnings. Don't do it unless it's a real emergency. Before you lock in a two year term, check out popular rates for 1 year and 6 month term deposits.

  • Does the interest payment frequency really matter?

    Absolutely! Generally, being paid more frequently is better, as once the interest is yours you can then earn interest on that interest (this is called compounding interest.) The more frequently your interest is paid, the faster it will grow. Let us do the math for you with our handy term deposit calculator.

Term deposit comparisons on Mozo Rates updated daily

  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity

    interest rate*

    2.85% p.a.
    2 years

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    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity
    • Minimum deposit: $5,000
    • Maximum deposit: $500,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    6.3

    Based on 3 Bank Australia term deposit reviews

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  • ING DIRECT Term Deposit

    ING DIRECT Term Deposit

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover

    interest rate*

    2.70% p.a.
    2 years

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    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover
    • Minimum deposit: $10,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    8.7

    Based on 55 ING DIRECT term deposit reviews

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  • Bankwest Online Term Deposit

    Bankwest Online Term Deposit

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process

    interest rate*

    2.60% p.a.
    2 years

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    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process
    • Minimum deposit: $1,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.7

    Based on 47 Bankwest term deposit reviews

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  • Citibank Term Deposit

    Citibank Term Deposit

    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.

    interest rate*

    2.35% p.a.
    2 years

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    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.
    • Minimum deposit: $75,000
    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    9.0

    Based on 3 Citibank term deposit reviews

    Need more information?
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    More info

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

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