Compare Australian Term Deposit Rates

See the best ongoing term deposit rates from 33 Australian banks, updated daily.

Sorted by ongoing rates — not temporary intro offers.

Why ongoing rates matter

Many comparison sites highlight introductory rates — temporary offers that drop after a few months. This can make products look better than they really are.

AuRatePulse sorts by ongoing rates, so you can see what you're likely to earn over the full term. No sponsored rankings. No hidden bias. Just the real rates.

Compare the Best Term Deposit Rates

See the highest ongoing rates across Australian term deposits.

View rates →

Rate Comparison

Compare ongoing term deposit rates across major banks, challenger banks, neobanks, and credit unions. Use the table below to scan by term and see how payment frequency can affect returns.

My deposit:

3mo 6mo 1yr 18mo 2yr 3yr 5yr

Lender	3mo	6mo	1yr	18mo	2yr	3yr	5yr
NAB Big4	3.35% —	3.50% —	5.25% 5.15%	5.20% 5.10%	5.20% 5.10%	3.80% 3.75%	3.80% 3.75%
ANZ Big4	3.35% 3.34%	5.00% 4.95%	5.30% 5.18%	5.30% 5.18%	5.25% 5.13%	4.60% 4.51%	4.00% 3.93%
Commonwealth Bank Big4	3.35% 3.30%	3.50% 3.45%	4.75% 4.65%	4.55% 4.45%	5.25% 5.15%	4.60% 4.50%	—
Westpac Big4	3.25% 3.20%	3.40% 3.35%	4.75% 4.70%	4.75% 4.70%	4.50% 4.45%	4.00% 3.95%	4.00% 3.95%
AMP Bank Challenger	—	5.15% —	5.40% —	—	—	—	—
BankSA Challenger	3.25% —	3.40% 3.35%	4.75% 4.70%	4.70% —	4.50% 4.45%	4.00% 3.95%	4.00% 3.95%
Suncorp Bank Challenger	3.80% —	5.00% —	5.30% —	5.30% —	5.25% —	5.00% —	5.00% —
ING Challenger	Best 5.05% —	5.20% —	5.30% —	—	4.70% —	—	—
Rabobank Challenger	4.85% —	5.00% —	5.00% 4.85%	3.60% 3.50%	4.80% 4.65%	4.85% 4.70%	5.15% 5.00%
Bankwest Challenger	4.80% —	4.40% —	5.20% 5.08%	5.20% 5.08%	5.00% 4.89%	5.00% 4.89%	5.00% 4.89%
ME Bank Challenger	4.80% —	5.15% —	5.35% —	—	—	—	—
St George Bank Challenger	3.25% —	3.40% 3.35%	4.75% 4.70%	4.70% —	4.50% 4.45%	4.00% 3.95%	4.00% 3.95%
Heartland Bank Challenger	4.95% —	Best 5.40% —	Best 5.55% 5.40%	—	5.25% 5.05%	5.25% 5.00%	5.45% 5.00%
Bendigo Bank Challenger	2.75% —	3.00% —	5.10% —	—	4.50% —	3.00% —	3.00% —
Bank of Melbourne Challenger	3.25% —	3.40% 3.35%	4.75% 4.70%	4.70% —	4.50% 4.45%	4.00% 3.95%	4.00% 3.95%
Judo Bank Challenger	4.95% 4.85%	4.95% 4.85%	5.35% 5.25%	—	5.40% 5.30%	Best 5.40% 5.30%	Best 5.50% 5.40%
RACQ Bank Challenger	5.00% —	5.30% —	5.35% —	—	3.30% —	3.30% —	3.30% —
MOVE Bank Neo	5.00% —	5.35% —	5.45% —	Best 5.45% —	Best 5.45% —	—	—
Macquarie Bank Neo	5.00% 4.98%	5.10% 5.05%	5.20% 5.08%	—	2.00% 1.98%	2.00% 1.98%	2.00% 1.98%
BOQ Neo	4.75% —	5.05% —	5.25% —	—	2.00% 1.90%	2.00% 1.90%	—
Southern Cross CU Credit union	4.60% —	4.75% —	5.00% —	3.50% —	4.70% —	—	—
MyState Bank Credit union	5.05% —	5.30% —	5.40% —	—	5.15% —	4.25% —	—
Bank Australia Credit union	5.00% —	5.20% 5.10%	5.40% —	3.55% —	5.20% —	5.10% —	—
P&N Bank Credit union	3.85% —	3.80% —	5.00% —	4.20% —	4.20% —	3.35% —	3.35% —
BCU Bank Credit union	4.00% —	4.45% —	5.00% —	—	3.45% —	3.35% —	—
Defence Bank Credit union	4.35% —	4.75% —	5.20% —	—	5.25% —	—	—
People First Bank Credit union	4.00% —	5.00% —	5.20% 5.08%	—	4.75% 4.65%	4.75% 4.65%	4.75% 4.65%
Greater Bank Credit union	4.50% —	5.00% —	5.35% —	3.00% 2.90%	4.25% 4.15%	3.75% 3.65%	3.55% 3.45%
Beyond Bank Credit union	4.30% —	4.65% —	5.15% —	—	4.60% —	3.65% —	3.65% —
Newcastle Permanent Credit union	4.50% 4.40%	5.00% 4.90%	5.35% 5.25%	—	4.25% 4.15%	3.75% 3.65%	3.55% 3.45%
Great Southern Bank Credit union	4.40% —	5.20% —	5.35% 5.25%	2.40% 2.30%	4.35% 4.25%	5.25% 5.15%	5.35% 5.25%
Teachers Mutual Bank Credit union	4.85% —	4.65% —	5.30% —	4.05% —	4.05% —	4.05% —	—
IMB Bank Credit union	4.60% —	5.10% —	5.25% 5.13%	—	4.50% 4.40%	4.50% —	4.00% —
No lenders accept deposits under that amount.

Rates shown are p.a. (per annum). Best available rate per term per lender. Minimum deposit requirements vary. View all lenders. Best rates guide.

Current rate snapshot

— The best Australian term deposit rates are currently concentrated in the mid-5% range.
— Challenger banks often lead the highest ongoing rates, while major banks can be more competitive on selected terms.
— Comparing by term matters because the highest rate is not always on the longest deposit.

Browse by term

Jump straight to the best term deposit rates for the term length you care about.

How to choose a term deposit

— Short terms (3–6 months): more flexibility if rates rise
— Longer terms (1–2+ years): often higher rates but less flexibility
— Payment frequency: monthly payments usually reduce total returns
— Early withdrawal: most banks apply penalties or restrictions

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Frequently asked questions

Are term deposits safe in Australia?

Most deposits up to $250,000 per institution are covered by the Australian Government Financial Claims Scheme.

What is the difference between intro and ongoing rates?

Intro rates are temporary promotional rates. Ongoing rates apply for the full term and determine your actual return.

Are monthly interest payments better?

Monthly payments provide cash flow but usually result in a slightly lower overall return compared to interest paid at maturity.

Can I withdraw early from a term deposit?

Early withdrawal is usually restricted and may incur penalties or reduced interest.