Your selected term deposits
$0 Set up and no ongoing account-keeping fees. Interest rate depends on balance amount. Optional 3,6,9 or 12 month terms. Balances from $10,000.
$0 Set up and no ongoing account-keeping fees. Interest rate depends on balance amount. Optional 3,6,9 or 12 month terms. Balances from $10,000.
Read our Mozo Review to learn more about the Citi Term Deposit
No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.
No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.
Read our Mozo Review to learn more about the MyState Bank Online Term Deposit
Earn higher interest if you deposit $5,000 or more. Choose the length of your term, from just one month. Choose how and when you receive interest payments – reinvest or transfer to another bank account. Use internet or mobile banking to check your balance. $1,000 minimum investment amount.
Earn higher interest if you deposit $5,000 or more. Choose the length of your term, from just one month. Choose how and when you receive interest payments – reinvest or transfer to another bank account. Use internet or mobile banking to check your balance. $1,000 minimum investment amount.
Read our Mozo Review to learn more about the Bank of Queensland Term Deposit
Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly (Terms and Conditions apply)
Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly (Terms and Conditions apply)
Read our Mozo Review to learn more about the Rabobank Term Deposit
$0 account keeping fees. Interest calculated daily. Flexible payment options. Standard terms available from 3 to 36 months. Qudos Bank is protected under the Financial Claims Scheme up to $250,000.
$0 account keeping fees. Interest calculated daily. Flexible payment options. Standard terms available from 3 to 36 months. Qudos Bank is protected under the Financial Claims Scheme up to $250,000.
Read our Mozo Review to learn more about the Qudos Bank Term Deposit
^See information about the Mozo Experts Choice Term deposits Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
Make 5 card purchases/month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
Earn up to a generous 2.00% p.a. variable interest on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30k.
Earn up to a generous 2.00% p.a. variable interest on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30k.
Read our Mozo Review to learn more about the Westpac Life - 18-29 years old
Deposit at least $200 to either Spend or Save account from an external source each month.
Earn up to 1.85% p.a in interest. No monthly fee to pay. Split your money in up to 10 Save accounts. Track your progress on each of your save accounts. Instant access to cash via PayID and Osko. Deposits guaranteed up to $250k per customer.
Earn up to 1.85% p.a in interest. No monthly fee to pay. Split your money in up to 10 Save accounts. Track your progress on each of your save accounts. Instant access to cash via PayID and Osko. Deposits guaranteed up to $250k per customer.
Read our Mozo Review to learn more about the ubank Save Account
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Read our Mozo Review to learn more about the MyState Bank Bonus Saver Account
Bonus rate for the first 4 months from account opening
No account keeping fees. No minimum balance required. Unlimited phone and internet transactions.
No account keeping fees. No minimum balance required. Unlimited phone and internet transactions.
Read our Mozo Review to learn more about the Citi Online Saver
Bonus rate of 2.00%. Deposit $2,000 each month, make 5 eligible payments from your Go Account and enable the Lock Saver feature. If you are between 18 and 25 deposit $1,000. 32 days notice for withdrawal and T&C's apply.
Enjoy a high interest savings account bundled with an everyday spending account. No monthly fees. And new customers can get a welcome bonus of 5,000 bonus Virgin Money Points (ends 31/8/22. Offer criteria & T&Cs apply).
Enjoy a high interest savings account bundled with an everyday spending account. No monthly fees. And new customers can get a welcome bonus of 5,000 bonus Virgin Money Points (ends 31/8/22. Offer criteria & T&Cs apply).
Read our Mozo Review to learn more about the Virgin Money Boost Saver with Go Account
Minimum one deposit and higher balance than at the beginning of the month
Ongoing bonus interest. Savings Goals.
Ongoing bonus interest. Savings Goals.
Read our Mozo Review to learn more about the Westpac Life
For customers who have an Orange Everyday and in each month deposit at least $1,000 into a personal ING account, make at least 5 settled card purchases using the linked ING debit card and grow the account balance.
No ING fees. Great variable rate every month when you grow your balance each month in addition to other eligibility criteria.
No ING fees. Great variable rate every month when you grow your balance each month in addition to other eligibility criteria.
Read our Mozo Review to learn more about the ING Savings Maximiser
Bonus rate for the first 4 months from account opening
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
^See information about the Mozo Experts Choice Savings accounts Awards
A year might seem like a very long time but rest assured, if you've done your homework, investing in a 12 month term deposit can work in your favour to maximise your wealth. A term deposit is where the interest rate is guaranteed not to change therefore your savings grow over the year. If you have a long term savings goal perhaps for a house or an overseas holiday, a 12 month term deposit is a good way to achieve those financial ambitions.
Locking your savings away for a whole year may seem a little daunting, as a lot can happen in 12 months with the market and your personal financial situation. So take the time to consider the following features before taking the leap into the world of term deposits.
If you shop around, you can generally find a higher interest rate with twelve month term deposits. While the rates on offer for a twelve month term deposit may not be quite as high as what is offered with a five year term deposit, you will, more often than not, be able to find a rate higher than what is offered with a shorter, three or six month term. So it's really up to you and your individual needs, as to whether you want to opt for a shorter term deposit with a lower interest rate, where you can access your funds sooner, or a longer term deposit where your money will be locked away for a considerable period of time, but will most probably benefit from a higher interest rate. Check out Mozo's Term Deposits Interest Rates information page for more information on term deposit rates available right now.
Do you have a large amount of cash you're not sure what to do with? Are you someone that doesn't like taking risks and would rather take a conservative approach when it comes to money? If so, a 1 year term deposit may just suit you and your savings.
Fair enough though if you feel a little scared at the thought of opening up a one year term deposit, especially given you can't access the funds over the term without penalties. So it's important to do a budget that ensures you can survive a year without the funds in your term deposit. Also make sure you have an emergency stash of cash to avoid penalties for dipping into the deposit before maturity.
Crunch some numbers in the Mozo savings goal calculator.
Interest can be paid monthly, quarterly, bi-annually, annually or on maturity. Discuss the options with your bank.
Usually via direct credit into your nominated account. In some cases the financial institution that holds your term deposit may pay the interest to another bank of your choice.
As many as you like, there's no limit.
A minimum of $1000.
It's free!
The financial institution can debit funds directly from your nominated bank account or you can transfer funds into a new term deposit
In most cases, the beauty of the online world allows you to open a term deposit with the click of a few buttons but you may have to visit branch
You can't make additional deposits until the term has ended
Yes but it will come at a cost! Do everything you can to avoid the early withdrawal penalty.
The Australian Government guarantees term deposits of up to $250,000 with Authorised Deposit-taking Institutions (ADIs) such as your bank, credit union or building society. So your pennies up to this amount are safe if anything unexpected happens to your ADI.
Withdrawal your money and go on a shopping spree, rollover your funds for another term or reinvest your funds once you've found a higher interest rate.
Judo Bank has the best Term Deposit rates plus an additional 0.10% loyalty bonus automatically added when the principle is rolled over to a new Term Deposit at maturity.
Read full reviewJudo Bank has the best Term Deposit rates plus an additional 0.10% loyalty bonus automatically added when the principle is rolled over to a new Term Deposit at maturity.
Creating a term deposit with ME Bank required a couple of phone calls but the service was AAAA rated! Very helpful and patient, the staff walked me through the process and was a delightful to work with!
Read full reviewCreating a term deposit with ME Bank required a couple of phone calls but the service was AAAA rated! Very helpful and patient, the staff walked me through the process and was a delightful to work with!
Just set up a term deposit online. The process was very easy. The only hitch was they didn’t explain welcome letter would be posted even though I requested electronic communication which means you have to wait for it to get your account number to set up online access. I rang them and they were most helpful in providing the account number and stepping me through the setup for online access. A 20-minute wait on the phone but that is the same as all banks now. A very pleasant customer service person who was very patient and helpful.
Read full reviewJust set up a term deposit online. The process was very easy. The only hitch was they didn’t explain welcome letter would be posted even though I requested electronic communication which means you have to wait for it to get your account number to set up online access. I rang them and they were most helpful in providing the account number and stepping me through the setup for online access. A 20-minute wait on the phone but that is the same as all banks now. A very pleasant customer service person who was very patient and helpful.
More term deposit reviews
Your selected term deposits