As an Australian resident you must pay tax on any income you earn each financial year, and this includes the interest you earn from savings accounts and term deposits. Read our guide to find out how this works.
Term deposit rates January 2022
Term deposits are a safe, easy way to earn a guaranteed return on your money. Right now, the best term deposit rates are above 1%.
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If you're looking for somewhere risk-free to boost your savings balance, a term deposit offers a guaranteed return. Just set, forget and let it do the hard, interest-earning work.
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- Gateway Bank term deposit
Earn a fixed interest rate on a wide choice of terms with a Gateway Bank personal term deposit.
- Citibank Term Deposit $10K
Earn a competitive fixed interest rate on a 3 or 6 month Citibank term deposit when you invest $10,000 or more.
- Judo Bank Term Deposit
Earn a competitive interest rate plus bonus interest when you roll over your deposit into a new term deposit. Terms from 3 months to 5 years. No fees.
- MyLife MyFinance Term Deposit
Earn a competitive interest rate on terms between 1 month and 2 years with a MyLife MyFinance term deposit.
- ANZ Business Notice Term Deposit
This account offers fixed interest rates for terms ranging from one month to five years, so you can enjoy secure, guaranteed returns on your business funds.
- RACQ Bank Term Deposit
Choose a term from one month to five years and earn a competitive, fixed interest rate on your deposit. This account is for Queenslanders only.
- Locked savings accounts
If you struggle to save, you could benefit from a savings account that won’t allow you to withdraw funds.
- Paying tax on term deposit interest
Find out all about the tax treatment of term deposit interest payments.
- AMP Bank term deposit $100,000+
Earn a competitive interest rate on deposits over $100,000 and enjoy flexible term lengths with the AMP Bank term deposit.
- AMP Bank term deposit $25,000+
With high interest rates offered in a variety of different terms, the AMP term deposit could be ideal for both short and long term saving goals.