1 Year Term Deposit

RateCity Staff

By RateCity Staff

2 min read

Search and compare some of the best 1 year term deposit interest rates at RateCity.com.au.

If you have a longer-term savings goal then maybe look into investing in a 1year term deposit for higher interest rates.

Depending on the state of the current yield curve, 1 year term deposits often have some relatively high interest rates available, without the need to lock in your money for an exceedingly long time. For a quick rate comparison take a look at some of today's best rates displayed on our Term Deposit Comparison Tables or see the table to the right for some of the top 1 year term deposit interest rates.

It's important to compare products and understand how your bank calculates and pays the interest earned in order to fully optimize your earning potential. Interest can be paid on 'maturity' either monthly, semi-annually or annually. So make note of the nominal interest rate (the advertised rate) and the effective interest rate (the actual interest rate including compounding effect of payment frequency) as the more frequent your interest is paid, the more your savings will grow. For example, $10,000 invested for one year with interest calculated daily and paid monthly will earn noticeably more in interest than if interest were calculated monthly and paid annually.

The table to the right shows RateCity's best rates avaliable now for 90 day term deposits. To compare 1 year term deposits, start your own search today!

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