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Find and compare high interest term deposits

Compare term deposit interest rates, and learn more about how term deposits can help grow your wealth. There is no single best term deposit as everyone’s needs are different. Use filters to improve your results.

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Sally Tindall
Sally Tindall

Research Director

Mark Bristow
Mark Bristow

Personal Finance Editor

Content updated

Product data updated

Consider these promoted savings accounts

MyState Bank Limited

Bonus Saver Account

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
*Deposit $20+ & make 5 purchases on a linked Everyday or Glide account per month

Maximum rate p.a.

5.00%*

Base rate p.a.

0.05%

First Option Credit Union Limited

Kids Bonus Saver < 18

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

*Deposit at least $5 per month without making a withdrawal
Special
Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and earn bonus interest up to 5.55% p.a. on balances up to $5,555.
  ~ Ends in 12 days

Maximum rate p.a.

0.85%*

Base rate p.a.

0.05%

Macquarie Bank Limited

Macquarie Savings Account

Real Time Rating™

  • Intro offer rate

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
Not applicable

Maximum rate p.a.

5.35%

intro 4 months then 4.75%

Base rate p.a.

4.75%

Westpac Banking Corporation Ltd

Westpac Life - 18 to 29 years old

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
*Make a deposit and make 5+ purchases on your Westpac Choice account each month

Maximum rate p.a.

5.20%*

Base rate p.a.

2.00%

product data updated on

Product data updated on 19 Mar 2024

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.