Term Deposit Rates
Provider | Rate | |||
---|---|---|---|---|
5.10% 729 DAY | Apr 2024 | |||
5.00% [value-16] | Dec 2023 | |||
5.00% | Apr 2024 | |||
4.90% | Jan 2024 | |||
4.88% 5000000 DOLLAR | Apr 2024 | |||
4.88% 5000000 DOLLAR | Apr 2024 | |||
4.88% 5000000 DOLLAR | Apr 2024 | |||
4.80% 3 MONTH | Apr 2024 | |||
4.70% 24 MONTH | Apr 2024 | |||
4.70% 1999999 DOLLAR | Apr 2024 |
What are term deposits?
Within Australia, banks offer term deposits as a product for retail customers. It is a funding source for banks and offers depositors a fixed interest investment from 1 month to 5 years. Many retirees are users of this product because it is a low-risk investment compared to some other asset classes. The RBA in monetary policy in Australia can influence the term deposit rate issued by banks.
Please note the government guarantee of deposits does NOT apply to branches of foreign banks in Australia and foreign branches of Australian ADIs. Please visit apra.gov.au to find out more information.