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Updated on 29 Jun, 2022

Real Time Ratings™

Real Time Ratings™ rates over 100 deposit-takers with a score out of 5, based on how much the term deposit will cost and how much flexibility it offers.

What is Real Time Ratings™

Real Time RatingsTM is a world-first rating system that ranks term deposits based on your balance over the fixed time period.

Unlike other term deposit rating systems that grade their products once or twice a year, Real Time RatingsTM results are calculated as you use the site, making them as up to date as possible.

Real Time RatingsTM gives each term deposit a score out of five stars, based on interest earned and flexibility. It factors in your deposit amount and the fixed time period of your deposit so you can find the best term deposit applicable to you.

Locking away your savings shouldn’t be a complicated process. Real Time RatingsTM helps simplify choosing a term deposit by showing you the most up-to-date information and giving each deposit an easy-to-read star rating.

How we calculate Real Time Ratings™

Real Time RatingsTM analyses term deposits from over 100 authorised deposit institutions to give each one a score out of five stars, based on the term deposit’s interest earned and how flexible it is.

The star ratings are rounded up to the nearest half, but when you hover your cursor over the stars, you’ll see the score is broken down into two categories: interest score and flexibility score.

Term Deposit

Interest score

Interest score is calculated by looking at your interest earnings over the fixed time period of your deposit and the interest payment frequency during the term.

Flexibility score

We rank flexibility by assigning points to a range of account features, such as ability to pay interest to other institutions, alerts provided prior to maturity, availability of automatic rollovers, penalty for early withdrawals and availability of joint accounts.

The points reflect the relative importance of these features, based on consumer research, analysis of what lenders are offering, feedback and expert opinion.

Real Time Ratings™ Case Studies

The following hypothetical examples show how Real Time Ratings™ may help a variety of different borrowers find the right term deposit.

  • Chris – the savings dipper

Chris wants to save up for a new bike, but he has a bad habit of dipping into his savings. He’s managed to save $4,000 but he’s withdrawn at least $300 in the last few months to pay for small things here and there. He’s very close to his savings goal, so decides to move his savings into a term deposit so he can lock away the balance at a high rate.

He hops on RateCity and searches for term deposits. He knows that a high rate of return is important for him, but he also wants an account that will let him know when it’s about to reach maturity, as he can be forgetful.

After being shown a range of options, he notices that the term deposits have been graded with Real Time RatingsTM scores. The star ratings indicate not only which term deposits have high rates, but also how flexible they are. This is very helpful for Chris, as he knows his ideal term deposit will notify him at maturity but doesn’t want to search through the fine print of every product to find out.

  • Gwen and Scott – The soon-to-retire couple

Gwen and Scott are approaching retirement and have been using term deposits since they were newlyweds. They’ve accumulated a balance of $70,000, and their last term deposit is almost at maturity.

The bank they’ve been using for years is no longer offering them competitive rates, and Gwen and Scott’s children have recommended they go online and look for higher rate options. Further, Gwen and Scott don’t know when exactly they want to cash out their term deposit, so being able to rollover the balance to a new fixed term is ideal.

Gwen and Scott use RateCity to search for new term deposit options. They don’t want to fuss about with looking at the terms and conditions of multiple banks, so they’re relieved when they see the term deposits are graded with Real Time RatingsTM scores.

Real Time RatingsTM calculates not only rates, but flexibility. This helps Gwen and Scott to know which term deposits will not only boost their savings for retirement, but also provide joint accounts, allow for automatic rollovers and offer higher rates for customers who do rollover their balances. They find a term deposit with a Real Time RatingsTM score of 5 stars and decide to make the switch.

How RateCity leaderboards work

We’ve built these leaderboards to help you quickly see what are the top banking products in each of the key categories.

The most recent Gold Award 2021