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NAB the most generous big four bank for term deposit interest rates
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 |
Disclaimer
This article is over two years old, last updated on May 20, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent term deposits articles.
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Product database updated 26 Apr, 2024
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