12 month term deposits

Unimpressed by the stormy investment seas? Don't put your cash under the mattress - make it work hard for you with a high interest term deposit. After all, where interest is concerned more is more.

What happens when the 1 year term deposit period is finished?

After your term deposit period is finished you'll be able to access your money and the interest you've earned. At this point,you could sign up again for another term deposit, transfer the cash into other investments or just spend it and enjoy your interest earnings. Some banks will also give you the option of automatic rollovers so you can continue to receive high interest until you make up your mind. Want more info? Check out our guide, Term Deposit Features.

Does it matter if interest is paid monthly, quarterly or at the end of term?

It sure does! Interest is usually calculated daily, so the sooner that money is yours (ie the more frequently you're paid) the sooner it can be in your account working hard for you and earning you more interest. Do pay attention to the payment frequency as it can really add up! Spot the difference that payment frequency will make with our term deposit calculator.

How do I get a 12 month high interest term deposit? Can I apply online?

It's really simple to do just like opening a bank account. Once you've found the best bank term deposit that best suits your needs simply click the 'go to site' button and you'll be guided through an easy online application.

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12 month term deposit comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2021

    Judo Bank Term Deposit

    Judo Bank Term Deposit

    • 2020 Mozo Experts Choice Award winner
    • 2.15% rate for a five year term
    • Option to have interest paid to another bank

    interest rate

    0.95% p.a.
    1 year

    Minimum deposit

    $1,000

    Govt Deposit Guarantee

    Yes up to $250,000

    Go to site

    More info

    • 2020 Mozo Experts Choice Award winner
    • 2.15% rate for a five year term
    • Option to have interest paid to another bank
    • Maximum deposit: $1,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    5.0

    Based on 4 Judo Bank term deposit reviews

    Need more information?
    Go to site

    More info

  • Citi Term Deposit

    Citi Term Deposit

    • Competitive 6 month rate for new to bank funds
    • $0 Setup and account-keeping fees
    • Guaranteed interest rate

    interest rate

    0.75% p.a.
    1 year

    Minimum deposit

    $10,000

    Govt Deposit Guarantee

    Yes up to $250,000

    Go to site

    More info

    • Competitive 6 month rate for new to bank funds
    • $0 Setup and account-keeping fees
    • Guaranteed interest rate
    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    6.7

    Based on 15 Citi term deposit reviews

    Need more information?
    Go to site

    More info

  • Teachers Mutual Bank Term Deposit

    Teachers Mutual Bank Term Deposit

    interest rate

    0.90% p.a.
    1 year

    Minimum deposit

    $1,000

    Govt Deposit Guarantee

    Yes up to $250,000

    Go to site

    More info

    • Maximum deposit: $499,999
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    8.4

    Based on 33 Teachers Mutual Bank term deposit reviews

    Need more information?
    Go to site

    More info

  • BankVic Term Deposit

    BankVic Term Deposit

    interest rate

    1.05% p.a.
    1 year

    Minimum deposit

    $5,000

    Govt Deposit Guarantee

    Yes up to $250,000

    Go to site

    More info

    • Maximum deposit: $100,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.9

    Based on 9 BankVic term deposit reviews

    Need more information?
    Go to site

    More info

Want more? Compare all 86 term deposits in the Mozo comparison engine.

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