Bank of Sydney looks to lure savers with some of its short term term deposits

By Cameron Thomson · · 1 min read
Fact Checked
Advertiser disclosure

With rates still high but possible cuts at the start of next year, savers will have to make a choice between short and long term interest rates. 

Providers like Bank of Sydney are currently offering short term rates that could be useful for parking your cash in for a few months. For example, the bank's 3-month term deposit now offers a 4.85% p.a. interest rate, while its 6-month and 9-month term deposits provide a 5.20% p.a. and 5.10% p.a, respectively.

The bank's decision to boost its short-term term deposit rates is particularly noteworthy given the recent actions of other players in the market. For instance, Judo Bank recently increased its 3, 6, 9, and 12-month rates, with its 6, 9, and 12-month rates all sitting at 5.25% p.a.

Why savers should consider short term rates

Some savers can be tempted to lock in rates for as long as possible. However, short term rates come with some advantages of their own. It all depends on the current market conditions and keeping an eye on interest rate movements. 

Shorter term deposits are great if you’re thinking about locking cash up for a brief period while they’re still high. They’re also useful if you need that cash in the near future (for instance, 6 months from now) and want to try and get as much interest on it at a predictable rate. 

If you want to explore more shorter term rates, you can head over to our term deposit page or compare some providers in the tables below.

Term deposit comparisons on Mozo

Last updated 21 March 2025 Important disclosures
  • Mozo Expert Choice Badge
    Term Deposit

    4.90% p.a.
    6 months

    $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.

    Compare
    Go to site
    Details
  • Term Deposit

    4.65% p.a.
    6 months

    $1,000

    Yes up to $250,000

    Invest as little as $1,000 on terms from 21 days to 5 years. Open an online account in just 5 minutes. No annual or monthly account keeping fees. Flexible term options to choose from. Interest paid periodically or at maturity. Access to view your account 24/7.

    Compare
    Go to site
    Details
  • Term Deposit

    4.50% p.a.
    9 months

    $1,000

    Yes up to $250,000

    Looking for returns that return? Invest as little as $1,000 or as much as $1,000,000. Apply online today in as little as 5 minutes. Protected by the Australian Government’s Financial Claims Scheme up to $250,000.

    Compare
    Find out more
    Details
  • Mozo Expert Choice Badge
    Term Deposit

    4.75% p.a.
    3 months

    $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.

    Compare
    Go to site
    Details

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

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.

Today's term deposit rates