SMSF term deposit rates

It’s quick and easy to open a self-managed super fund term deposit online, with many banks offering fixed rates above 4% p.a.

Compare SMSF term deposit rates

1 - 10 of 34
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 11 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bendigo Bank Term Deposit - $5,000+
Bendigo Bank logo
$5,000 min. deposit$5,000,000 max. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
4.00%
5 Mths p.a.
3.00%
6 Mths p.a.
4.00%
7 Mths p.a.
3.00%
11 Mths p.a.
3.00%
12 Mths p.a.
4.40%
24 Mths p.a.
3.30%
More Info
The Mutual Bank Term Deposit
The Mutual Bank logo
$1,000 min. deposit
3 Mths p.a.
4.05%
4 Mths p.a.
2.95%
5 Mths p.a.
5.00%
6 Mths p.a.
4.55%
7 Mths p.a.
2.95%
11 Mths p.a.
-
12 Mths p.a.
4.35%
24 Mths p.a.
4.10%
Beyond Bank SMSF Term Deposit
Beyond Bank logo
$100,000 min. deposit$5,000,000 max. deposit
3 Mths p.a.
-
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
-
7 Mths p.a.
-
11 Mths p.a.
4.85%
12 Mths p.a.
-
24 Mths p.a.
-
Beyond Bank Term Deposit
Beyond Bank logo
$2,000 min. deposit$49,999 max. deposit
3 Mths p.a.
4.65%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
4.55%
7 Mths p.a.
-
11 Mths p.a.
-
12 Mths p.a.
4.45%
24 Mths p.a.
3.85%
More Info
Australian Military Bank Capital Guaranteed Pension - Fixed Term Investment Option
Australian Military Bank logo
$50,000 min. deposit
3 Mths p.a.
-
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
-
7 Mths p.a.
-
11 Mths p.a.
-
12 Mths p.a.
4.80%
24 Mths p.a.
3.95%
Commonwealth Bank Term Deposit
Commonwealth Bank logo
$5,000 min. deposit$49,999 max. deposit
3 Mths p.a.
2.95%
4 Mths p.a.
3.10%
5 Mths p.a.
3.25%
6 Mths p.a.
3.35%
7 Mths p.a.
3.45%
11 Mths p.a.
3.75%
12 Mths p.a.
4.15%
24 Mths p.a.
3.70%
More Info
Macquarie Bank Term Deposit
Macquarie Bank logo
$5,000 min. deposit$999,999 max. deposit
3 Mths p.a.
4.60%
4 Mths p.a.
4.55%
5 Mths p.a.
-
6 Mths p.a.
4.50%
7 Mths p.a.
-
11 Mths p.a.
-
12 Mths p.a.
4.35%
24 Mths p.a.
3.90%
More Info
Geelong Bank Fixed Term Deposit Investment Accounts
Geelong Bank logo
$500 min. deposit$4,999 max. deposit
3 Mths p.a.
3.00%
4 Mths p.a.
3.00%
5 Mths p.a.
3.00%
6 Mths p.a.
3.50%
7 Mths p.a.
-
11 Mths p.a.
-
12 Mths p.a.
4.00%
24 Mths p.a.
-
Community First Bank Term Deposit - $100,000+
Community First Bank logo
$100,000 min. deposit$1,000,000 max. deposit
3 Mths p.a.
4.50%
4 Mths p.a.
4.50%
5 Mths p.a.
4.50%
6 Mths p.a.
4.65%
7 Mths p.a.
4.65%
11 Mths p.a.
4.65%
12 Mths p.a.
4.65%
24 Mths p.a.
4.45%
More Info
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Showing 10 of 34 results

What is an SMSF term deposit?

An SMSF term deposit works the same way as normal term deposit , however they're designed specifically for self-managed super funds, not everyday individual customers.

An SMSF term deposit allows you to invest a sum of money for a fixed period of time. You're unable to access the money for the duration of the term - you can choose to invest anywhere from 3 months to 5 years. During that time, the money earns a fixed interest rate with interest paid monthly, quarterly or at the end of the term.

SMSF term deposit rates explained

SMSF term deposits offer a fixed interest rate. This means the the interest rate will be locked in for the life of the term. This is different to savings accounts, which offer a variable interest rate and can change at any time with little notice.

A fixed interest rate can be both a good and bad thing. If interest rates are falling while you've already locked in a fixed rate it's good, as your rate won't fall. However if interest rates are rising, you'll be stuck with your lower fixed rate until the term deposit matures.

You'll usually get a higher interest rate on longer terms of a few years, and sometimes you'll get a better rate for larger deposits too.

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How to apply for an SMSF term deposit

Firstly, you'll need to be a member of a complying SMSF. This means you'll need to be part of an SMSF with individuals as the fund trustees, or where a company is the trustee and each fund member is a director of that company. If you're not applying through your SMSF and instead as a personal customer you can open a regular term deposit instead.

Some banks will also place limits on the number of trustees a fund can have. For example, to be eligible to open a Ubank SMSF term deposit you will need to be a member of an SMSF with a maximum of 2 individual trustees or a corporate trustee with no more than 2 directors.

Steps to apply for an SMSF term deposit

The exact application process for an SMSF term deposit varies depending on the financial institution. However, you will generally need to complete the following steps:

  1. Download an application form. Forms are available from the financial institution's website.
  2. Check that your fund is eligible. Check the application form to ensure your SMSF is eligible.
  3. Select the type of SMSF. Specify whether your SMSF has individual trustees or a corporate trustee.
  4. Provide SMSF details. Enter your fund name and ABN if it has individual trustees, or the ABN and/or ACN of the corporate trustee. The names of individual trustees will also be required.
  5. Provide opening deposit details. Specify the amount you will deposit in the account and where the funds will come from; for example, a linked account or a bank cheque.
  6. Provide details of authorised account users. Supply the names, positions, addresses and contact details of each authorised account user. All individual trustees must be authorised to use the account, while in the case of a company trustee, a minimum of two directors OR a director and a company secretary must be authorised users.
  7. Sign the application. If your fund has individual trustees, each trustee will need to sign the application. If there is a corporate trustee, at least two directors will typically need to sign.
  8. Submit your application. Submit your application form online along with any required supporting documentation.

Documents you'll need when opening an SMSF term deposit

For SMSFs with individual trustees you will need to provide a certified copy of the relevant sections of the SMSF trust deed that clearly state:

  • The name of your super fund
  • The individuals listed in the application as the fund members and trustees

If the trustee of your SMSF is a company, your bank will need certified copies of the sections of the SMSF trust deed that identify the corporate entity as the trustee and the individuals listed as members.

Finally, remember that you will need to supply the details of each person authorised to use the account, including:

  • Their full name
  • Their address and contact details
  • Their date of birth
  • A certified copy of photo ID

Benefits of an SMSF term deposit

  • Term deposits provide a fixed interest rate and fixed rate of return
  • Your deposit up to $250,000 is covered by the government's bank guarantee scheme
  • Due to the fixed rate, term deposits are protected by any major market falls
  • You can choose how often you want to receive interest payments
  • SMSF term deposits are quick and easy to open
  • No ongoing deposit requirements to meet, unlike savings accounts

Why should I invest in an SMSF term deposit?

Your SMSF isn't required to invest any money at all in an SMSF term deposit, but you might decide it's a good fit within your wider SMSF investment strategy to do so.

Depending on your fund's strategy, you'll likely have a portion of your investment allocated towards defensive or lower risk assets with term deposits a very popular choice.

As of September 2024, SMSFs had $161 million invested in cash and term deposits. In comparison, there was $166 million invested into property - so a very similar amount.

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Frequently asked questions

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Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

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4 Responses

    Default Gravatar
    MinhJuly 13, 2023

    I want to invest $1,000,000 from my SMSF in a term deposit.
    Please advise what I need to do.
    Regards
    Minh

      AvatarFinder
      AlisonJuly 13, 2023Finder

      Hi Minh, you’ll need to choose a term deposit and complete the online application process to open the account. Once you’ve chosen a term deposit, you can also reach out to the bank directly for assistance with opening the account if you need.

    Default Gravatar
    SandraJune 3, 2023

    Looking to either do a term deposit or SMSF from a inheritance I received which would be better growth and tax wise? Still working full-time with 6yrs to retirement…thoughts please.

      AvatarFinder
      AlisonJune 5, 2023Finder

      Hi Sandra, Finder is a comparison site and we’re not licensed to offer you any personal financial advice. We’d recommend speaking with a financial adviser to get personal advice based on your situation.

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