TERM DEPOSITS

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1 Year Term Deposit $1000

Looking for a 1 year term deposit but only have a $1000 deposit? At RateCity, you can compare some of the best interest rates at a fixed rate of return.

If you are a small saver with $1000 and want to put money on a bank term deposit for 12 months there are limited products available. Entry level for investments at most of the major banks starts at $5,000 which cuts out a lot of the small savers.

Term deposits offer you a safe low-risk investment option if you have a longer term savings goal in mind. Terms start anywhere from one month up to five years, with peak interest rates being offered for one year investments.

Because your interest rate is fixed and guaranteed not to change during the nominated term, you are able to calculate the interest earned on your investment. While a 1 year term deposit can be a safe and reliable investment strategy, the disadvantage lies in penalty fees for early withdrawals. So when it comes to choosing an investment term, you need to consider when you'll need to access your funds and what interest rate you want to earn first.

Make sure you have considered other term deposit products and alternative investment options such as high interest savings accounts.

What you'll need to apply:
  • A minimum deposit of $1000
  • Over 18 years old
  • Your Tax File Number (TFN) or TFN Exemption, required by law so your institution can deduct tax from any interest earned
  • Another existing account to link to your term deposit
The table below displays 12 month term deposit rates offered by banks.

Related Links: Compare best term deposit interest rates, UBank term deposits, Macquarie Bank term deposits
This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Term Deposits from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a term-deposit, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.