These include banks, credit unions and building societies. Only Authorised Deposit-taking Institutions (ADI) can offer term deposits in Australia. When your term deposit ends, you typically have two choices: you can either withdraw your cash plus your interest, or choose to roll it over into a new TD which could have a different rate on offer by the lender. Term deposits are popular among risk-averse investors who want a near-guaranteed return on their investment. fortnightly, monthly, annually, or at maturity (the end of the term). Many term deposits allow you to choose when you want the interest to be paid e.g. This can be anywhere from one month to five years. With a term deposit, you lock away a lump sum of money in a financial institution for a set term in exchange for a fixed rate of interest. Term deposits (also known as TDs) are a basic low-risk investment product. (interest paid monthly)Īll rates and product info correct as at 7 December What is a term deposit?

Judo Bank's Personal Term Deposit - 60 months: 5.20% p.a.

Judo Bank's Personal Term Deposit - 36 months: 5.35% p.a.

Judo Bank’s Personal Term Deposit - 24 months: 5.25% p.a.

Judo Bank’s Personal Term Deposit - 12 months: 5.35% p.a.

Firstmac’s Term Deposit - 6 months: 5.15% p.a.

Here are some of the top term deposit offers this month on : Meanwhile, the average three-year term deposit was paying only 4.00% p.a - just 0.15% higher than the average six-month rate of 3.85% p.a! According to RBA data, the average one-year term deposit rate on offer from the five largest banks in September was 4.60% p.a. Meanwhile, one- and two-year term deposits are still paying higher interest rates than longer terms of three to five years. Judo Bank is the dominant player on the term deposit market, offering the top rates for most term lengths.

Hot December Term Deposit Rates and Deals

Td bank term deposit rates