Term Deposit Rates
| Provider | Rate | |||
|---|---|---|---|---|
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ING Direct Australia 2 Year Term Deposit Rate indicated has a minimum opening deposit of $10,000 +Follow |
2.80% 2 Year | Apply Mar 2019 |
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Bank of Melbourne 5 Year Term Deposit The current interest rate for this term deposit product is for a 1 year period and applies to deposit amounts or balances ranging from $250,000 to $5,000,000. Interest paid annually. +Follow |
2.80% 5 year | Apply Nov 2018 |
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Bank SA 5 Year Term Deposit The interest rates applicable for this 5 year term product is for interest paid annually for $250,000 to $5,000,000. +Follow |
2.80% 5 year | Apply Jun 2018 |
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St George Bank 60 Month Term Deposit Rate indicated is for the range between $1,000 to $5 million annually or at maturity +Follow |
2.80% 5 Year | Apply Jun 2018 |
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Bank of China Australia 1 Year Term Deposit Rate is applicable to deposits ranging from $20,000 to $5,000,000. +Follow |
2.60% 1 year | Apply Nov 2018 |
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NAB 2 Year Term Deposit Main Rate is applicable for a 2 year /24 month term deposit for a balance between $100,000 and $499,999. Interest paid at maturity/annually with other monthly and semi annual options available. +Follow |
2.60% 2 year | Apply Aug 2019 |
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State Bank of India Australia 60 Month Term Deposit Minimum deposit of $250,000 required for residents. Minimum $20,000 for non-residents. +Follow |
2.15% 5 Year | Apply Aug 2019 |
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UBank 1 Year Term Deposit The interest rate for this Ubank term deposit account is for a 12 month / 1 year period and may include a .10% loyalty bonus when you rollover 100% of your term deposit. It also requires a minimum $1000. +Follow |
2.05% 1 year | Apply Aug 2019 |
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Suncorp Bank 3 Month Term Deposit Rate indicated is for the range between $100,000 to $499,999. +Follow |
2.05% 3 Month | Apply Aug 2019 |
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Bank Australia 1 Year Term Deposit Rate is for interest paid at maturity and for the set 12-18 range the amount of $100,000 and over +Follow |
2.00% 1 year | Apply Aug 2019 |
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.