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Macquarie Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
4.95% p.a.1 year ($5,000 to $1,000,000)
Minimum Deposit
$5,000.00
Interest paid to another bank?
yes

Mozo editorial review Macquarie Term Deposit - last updated: 4 July 2024

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What's hot
  • 4.95% p.a for a 1 year term
  • Terms ranging from 1 month to 5 years
  • Interest can be paid to another account
What's not
  • Minimum deposit of $5,000
  • 31 days notice required if customers want to withdraw their funds before the maturity date.
Mozo snapshot

With interest rates as high as 4.95% for a 1 year term, a range of term options and no account fees, the Macquarie Term Deposit account could be just the account you need to help achieve your personal savings goals.

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Key features

Savers will have access to a number of choices with the Macquarie Term Deposit depending on how long they wish to lock their money away for, with terms from as short as 1 month all the way up to five years. 

Of course, each term comes with its own interest rate, with the highest currently on offer being 4.95% for a 1 year term. Just keep in mind that a minimum deposit of $5,000 applies to all Macquarie Term Deposits.

The Macquarie Term Deposit also offers some flexible features. For example, if you’re an existing Macquarie client, you’ll have the ability to connect your term deposit account with your Macquarie Cash Management Account (CMA) to help you better manage your investments and cash flow.

Another feature that comes with this account is that you’ll have the freedom to choose how often you receive interest payments and you’ll also have the option to automatically roll over your account should you wish to keep it once it reaches maturity - just be sure to check that you’ve still got a competitive rate first. 

On top of all this, the Macquarie Term Deposit gives you the option to have your interest paid into a different bank account.

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Who is it good for

With a wide range of term options plus a few flexible features, if you’re an Aussie who’s looking for somewhere to lock away your cash so you can start building up your savings, then the Macquarie Term Deposit could be a top-notch option for you.

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Any catches

As with most term deposits, the Macquarie Term Deposit requires at least 31 days notice should you wish to withdraw funds from your account before it reaches maturity.

Details

Rates and fees information correct as at 16 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

0.05% p.a. ($5,000 to $1,000,000)

0.85% p.a. ($5,000 to $1,000,000)

0.75% p.a. ($1,000,001+)

4.90% p.a. ($5,000 to $1,000,000)

4.60% p.a. ($1,000,001+)

4.90% p.a. ($5,000 to $1,000,000)

4.60% p.a. ($1,000,001+)

4.90% p.a. ($5,000 to $1,000,000)

4.60% p.a. ($1,000,001+)

4.95% p.a. ($5,000 to $1,000,000)

4.65% p.a. ($1,000,001+)

4.95% p.a. ($5,000 to $1,000,000)

4.65% p.a. ($1,000,001+)

4.35% p.a. ($5,000 to $1,000,000)

4.05% p.a. ($1,000,001+)

4.25% p.a. ($5,000 to $1,000,000)

3.95% p.a. ($1,000,001+)

4.25% p.a. ($5,000 to $1,000,000)

3.95% p.a. ($1,000,001+)

4.25% p.a. ($5,000 to $1,000,000)

3.95% p.a. ($1,000,001+)

Other financial bits

$5,000.00

none

Features

yes

yes

31 days notice required if customers want to withdraw their funds before the maturity date. Early break fee is 25% of interest earned.

none

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

Customer Reviews

How are Macquarie term deposits rated by the Mozo community?

Overall
6.5/10
Price
6.7/10
Features
5.8/10
Customer service
7.0/10
Convenience
5.9/10
Trust
6.6/10
Based on 20 Macquarie term deposit reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest review of Macquarie Term Deposit

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5.25% p.a.

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Yes up to $250,000

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5.10% p.a.

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Yes up to $250,000

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Yes up to $250,000

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5.00% p.a.

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Yes up to $250,000

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$1,000.00

Yes up to $250,000

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$10,000.00

Yes up to $250,000

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