Like most interest rates, term deposit interest rates vary depending on each financial institution, so it's in your best interest to shop around and compare rates to ensure that you are getting the most out of your investment.
Explore our term deposit comparison page to find some of the top rates in the market.
Once you open a term deposit account, your term deposit interest rate is fixed for a certain period of time. During this time you are unable to change the rate, or access your funds easily. Once your term deposit reaches maturity, you can then select to move your investment to another financial institution or term to receive a higher interest rate if available at that time.