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6 month term deposits

  • Diligent savers deserve to be rewarded and in this climate there are plenty of great places to stash your cash and super-size your interest. If you won't need to access your savings in the short to medium term, a six month term deposit could be right for you.

  • How much interest will I earn?

    The interest you earn on your term deposit will depend on the interest rate of the banking provider you choose, the length of your term deposit and the frequency of interest payments. Work out how much you can earn on your term deposit savings with our handy term deposit calculator.

  • Is there a penalty for accessing my term deposit before the full term is up?

    Unfortunately yes If you want to take your money out early you'll typically face a 'break fee' and a deduction of some, or all of the interest you earned. If you need ready access to your cash, a high interest savings account could be a better choice or look at shorter fixed terms like 3 month or 1 month term deposits.

  • Should I make additional savings during the term deposit time?

    It will depend on your provider whether you're able to make additional contributions to your term deposit, but typically not. Keeping up the savings habit is a good idea, but you'd be better off with a high interest savings account where some providers reward you for making regular extra contributions.

Term deposit comparisons on Mozo - rates updated daily

  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • 6 month special rate for $10,000+
    • Short term investments of 3 months also available
    • Interest paid at maturity

    interest rate*

    2.80% p.a.
    6 months

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    • 6 month special rate for $10,000+
    • Short term investments of 3 months also available
    • Interest paid at maturity
    • Minimum deposit: $10,000
    • 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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  • firstmac Term Deposit

    firstmac Term Deposit

    • Flexible terms, choose from 30 days, 60 days, 90 days, 6 months, 9 months, 12 months and 24 months
    • Lock in your return - a secure fixed rate for the length of the term
    • Safe and secure with an Australian Government Guarantee

    interest rate*

    2.60% p.a.
    6 months

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    More info

    • Flexible terms, choose from 30 days, 60 days, 90 days, 6 months, 9 months, 12 months and 24 months
    • Lock in your return - a secure fixed rate for the length of the term
    • Safe and secure with an Australian Government Guarantee
    • Minimum deposit: $5,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Need more information?
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  • Bank of Queensland Premier Investment

    Bank of Queensland Premier Investment

    • No account keeping or transaction fees
    • Competitive interest rates
    • Wide choice of terms

    interest rate*

    2.25% p.a.
    6 months

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    • No account keeping or transaction fees
    • Competitive interest rates
    • Wide choice of terms
    • Minimum deposit: $5,000
    • Maximum deposit: $249,999
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.9

    Based on 49 Bank of Queensland term deposit reviews

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    More info

Want more? Compare all 77 term deposits in the Mozo comparison engine.

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

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