MyState Bank tempts savers with new high term deposit rates

woman sitting on a pile of coins looking for term deposits

After back to back RBA rate hikes, MyState Bank has just raised the interest rate of its 24 and 36 month term deposits to a whopping 3.35% p.a. This makes its 24 month term one of the top 5 highest available in our database.

According to MyState Bank’s general manager of digital and marketing Heather McGovern, the bank’s term deposit rates “provide an attractive option for anyone wanting certainty on their savings without worrying about market fluctuations.”

“MyState customers can now access some of the best term deposit rates in Australia. Now is also the time for savers in Australia to take advantage of these returns,” she says.

So if you’re looking for a mid-length term deposit, MyState Bank might be worth investigating. In addition to taking out a Mozo Experts Choice Awards^, the bank's term deposits are also covered under the $250,000 government guarantee and come in a range of terms to suit a range of investment needs and timeframes.

Read more below on our product rundowns to determine if it's time to start looking for term deposit options.

36 month term

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 101 term deposits.
Last updated 19 July 2024 Important disclosures
MyState Bank - 36 month term deposit
  • 3.35% p.a. interest rate
  • $5000 min deposit ($5M max)
  • Automatic rollover option
  • Fast online application

24 month term

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 101 term deposits.
Last updated 19 July 2024 Important disclosures
MyState Bank - 24 month term deposit
  • 3.35% p.a. interest rate
  • $5000 min deposit ($5M max)
  • Automatic rollover option
  • Fast online application

12 month term

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 101 term deposits.
Last updated 19 July 2024 Important disclosures
MyState Bank - 12 month term deposit
  • 3.05% p.a. interest rate
  • $5000 min deposit ($5M max)
  • Automatic rollover option
  • Fast online application

10 month term

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 101 term deposits.
Last updated 19 July 2024 Important disclosures
MyState Bank - 10 month term deposit
  • 2.50% p.a. interest rate
  • $5000 min deposit ($5M max)
  • Automatic rollover option
  • Fast online application

Want to compare more term deposits? View the latest term deposit rates at Mozo's term deposit comparison hub.

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

^See information about the Mozo Experts Choice Term Deposit Awards

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.