NAB the most generous big four bank for term deposit interest rates



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Consumers who want to invest $5,000 in a term deposit with a big four bank will currently get the best return with NAB.

When it comes to $5,000 term deposits, NAB’s interest rates are either the same or higher than the other big four banks for three-month term deposits, one-year term deposits, two-year term deposits, three-year term deposits and five-year term deposits (see tables below).

To earn the highest interest rate, consumers would need to lock away their $5,000 lump sum for five years.

ANZ, NAB and Westpac all pay 2.80 per cent interest on five-year term deposits, which would deliver $700 interest, or a final return of $5,700.

ANZ term deposits

Term Interest rate Interest earned
3 months 2.00% $25
1 year 2.30% $115
2 years 2.60% $260
3 years 2.50% $375
5 years 2.80% $700

Commonwealth Bank term deposits

Term Interest rate Interest earned
3 months 1.75% $21.88
1 year 1.90% $95
2 years 1.90% $190
3 years 1.90% $285
5 years 1.90% $475

NAB term deposits

Term Interest rate Interest earned
3 months 2.00% $25
1 year 2.40% $120
2 years 2.60% $260
3 years 2.70% $405
5 years 2.80% $700

Westpac term deposits

Term Interest rate Interest earned
3 months 2.00% $25
1 year 2.30% $115
2 years 2.40% $240
3 years 2.50% $375
5 years 2.80% $700
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