Term deposit tricks and tips

By Mozo ·
Fact Checked
Advertiser disclosure

Here are some tips from the mozo team for getting the best value from your term deposit

  • Decide how long you can survive without your cash.
  • Check out our budget planner for a shortcut to financial organisation.
  • Have a play with our term deposit calculator to see how longer terms will increase your earnings.
  • Find the best interest rate. Okay, this sounds like a bastard of an ordeal. But Mozo helps compare term deposits, searching hundreds of accounts in seconds. Search the term deposit market now!
  • Be sure to have a quick look at some saving account deals to see if they're better at the moment.
  • Background check your peachy term deposit deal. Again: sounds tough, takes seconds. Hit the term deposit reviews from real customers who have these accounts already.
  • Save up a storm with your thunderous new term deposit.

Start comparing term deposits now.

Term Deposit Comparison Table - last updated 23 May 2022

Search promoted term deposits below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    3.40% p.a.
    2 years
    $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 2021^ for Term Deposits.

    Go to site
    Details
  • Mozo Expert Choice Badge
    Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    3.00% p.a.
    2 years
    $5,000
    Yes up to $250,000

    Competitive rates for one year term deposits. Start investing with as little as $5,000 to $1,000,000. For personal customers who want to invest above $500,000, or for non-personal customers, contact MyLife MyFinance’s call centre to discuss account application options. No account keeping or set up fees to pay. Option to have interest paid at maturity. MyLife MyFinance is part of the Challenger Group.

    Go to site
    Details
  • Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    0.65% p.a.
    3 months
    $10,000
    Yes up to $250,000

    $0 Set up and no ongoing account-keeping fees. Interest rate depends on balance amount. Optional 3,6,9 or 12 month terms. Balances from $10,000.

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    Details
  • Mozo Expert Choice Badge
    12 Month Term Deposit Special
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    1.50% p.a.
    1 year
    $100,000
    Yes up to $250,000

    Competitive rate for 12 month term deposit. Flexibility to choose your interest frequency. Higher rates of interest when you lock your money away. Convenient moneytree app to access on the go. Fast online application. 2021 Mozo Experts Choice Awards for Australia’s Best Banking^.

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    Details
  • Mozo Expert Choice Badge
    Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    2.70% p.a.
    1 year
    $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 2021^ for Term Deposits.

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    Details

Term Deposit Comparison Table

Promoted

Citi
Term Deposit Special

1.60% p.a.
3 months

$10,000

Go to site

Promoted

MyState Bank
Online Term Deposit

1.60% p.a.
9 months

$5,000

Go to site

Promoted

UBank
Term Deposit

1.70% p.a.
1 year

$1,000

Go to site

Promoted

Defence Bank
Term Deposit

1.35% p.a.
11 months

$1,000

Go to site

*Rates shown are for interest paid annually, or on maturity for terms less than 1 year.

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

^See information about the Mozo Experts Choice Term Deposit Awards

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