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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

  • 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*

    2.95% p.a.
    6 months

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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: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    9.0

    Based on 3 Citibank 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*

    2.70% p.a.
    6 months

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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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  • 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*

    2.50% p.a.
    6 months

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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*

    2.10% p.a.
    6 months

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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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    More info

Want more? Compare all 75 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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