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When a term deposit reaches the end of its agreed term, this is called maturity. Once a term deposit reaches maturity it is up to the individual to notify the financial institution with instruction on what to do with their investment, for instance whether to reinvest or pay out the amount. If the financial institution is not notified often they will automatically roll over this amount for the same length of time, however the interest rate will be at the current rate, not necessarily the original rate.

If you are in the market for a term deposit, see the table below for a list of current specials for term deposits for less than 12 months from banks.

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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, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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