3 month term deposits

  • Is your spare cash working as hard for you as it should be? If you don't need to draw on your savings for a few months, you could give it a boost with a 3 month term deposit.

  • How can compound interest work for me?

    A truly marvellous invention Albert Einstein once called compound interest 'the greatest mathematical discovery of all time.' Compound interest is the accumulation of interest, on interest, meaning the more frequently you're earning interest, the faster your money tree will grow. You can calculate how compounding term deposit interest will work in your favour with our handy term deposit calculator.

  • Can I access my money before the term deposit period is up?

    Technically yes, but it's not really a good idea to break a term deposit contract as you'll face 'break fees' that could cost you some or all of the interest you've earned. Banks offer a variety of fixed terms for term deposits so in addition to comparing 3 month terms also look at longer terms like 1 year or 2 year to compare interest rates.

  • I've just started to save, is a term deposit or a high interest savings account right for me?

    If you've just landed your first job, or finally broken even on debt and want to know where to stash your savings, a high interest savings account or term deposit is a great place to start. Usually term deposits require a minimum of $1000 - $5000 so if you're not at that stage yet, or you think you'll need access to that money in the near future, then a savings account is a good place to start.

3 month term deposit comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2020

    Featured product

     

    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*

    1.33% p.a.
    3 months

    Minimum deposit

    $1,000

    Govt Deposit Guarantee

    Yesup 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

    5.5

    Based on 2 Judo Bank term deposit reviews

    Need more information?
    Go to site

    More info

  • Featured product

     

    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*

    0.55% p.a.
    3 months

    Minimum deposit

    $10,000

    Govt Deposit Guarantee

    Yesup 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: $249,999
    • 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?
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    More info

  • MyState Bank Online Term Deposit

    MyState Bank Online Term Deposit

    • No set-up or account keeping fees
    • Apply online in minutes
    • Deposits up to $250,000 per customer are guaranteed by the Australian Government

    interest rate*

    0.75% p.a.
    3 months

    Minimum deposit

    $5,000

    Govt Deposit Guarantee

    Yesup to $250,000

    Go to site

    More info

    • No set-up or account keeping fees
    • Apply online in minutes
    • Deposits up to $250,000 per customer are guaranteed by the Australian Government
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    8.6

    Based on 28 MyState Bank term deposit reviews

    Need more information?
    Go to site

    More info

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

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