Compare term deposit rates from the Big Four banks
Check out term deposit rates from CommBank, Westpac, NAB and ANZ and compare the Big Four to smaller banks.
The Big Four don't offer the absolute highest rates on the market, but they're still quite competitive. Plus, if you already bank with one of the Big Four, the convenience of opening a term deposit and managing in your banking app could still be worth it.
Compare term deposit rates from the Big Four banks for July 2025
| Bank | 3 Months | 6 Months | 12 Months | 24 Months |
|---|---|---|---|---|
| ANZ Advance Notice Term Deposit | 2.7% p.a. | 2.95% p.a. | 3.65% p.a. | 3.4% p.a. |
| Commonwealth Bank Term Deposit | 2.8% p.a. | 3% p.a. | 3.5% p.a. | 3.35% p.a. |
| NAB Term Deposit | 2.85% p.a. | 3.05% p.a. | 3.9% p.a. | 3.5% p.a. |
| Westpac Term Deposit | 2.75% p.a. | 3.05% p.a. | 3.75% p.a. | 3.5% p.a. |
How to compare term deposit rates from the Big Four banks
- Work out how long you're going to invest for. Banks offer different rates depending on how long you want to lock up your cash for.
- Look for the highest rate you can get. Once you've decided on your term you can start looking at rates. You're trying to maximise the interest you earn, so the higher the rate the better.
- Check the minimum and maximum balance. Some banks won't let you put less than $5,000 in a term deposit. Or a higher balance may result in a lower rate.
- Take note of the withdrawal conditions. Make sure you understand what kind of fees or advanced notice period is required if you need to withdraw the money early.
- Look at how the interest is paid out. Understand how and when the bank will pay you the interest. "At maturity" means you get paid the interest at the end of the term.
Commonwealth Bank term deposits
The highest rate you can get on a Commonwealth Bank term deposit is 3.5% with a 12-month term.
You can invest between $5,000 and $2 million with a Commonwealth Bank term deposit. The bank charges no set-up or establishment fees and requires 31 days' notice if you need your cash before maturity.
Westpac term deposits
You can currently earn a rate of 3.75% from Westpac for 12 months.
You can invest between $5,000 and $2 million in a Westpac term deposit with fixed rates and the option to reinvest the cash once your term deposit matures.
NAB term deposits
You can earn up to 3.9% with a NAB term deposit for 12 months (interest paid at maturity). You can deposit between $5,000 and $2 million with a 31-day notice period to withdraw early.
ANZ term deposits
ANZ has 2 types of term deposits. Its standard term deposits have very low rates but you can withdraw at any time if you pay a fee.
ANZ's Advance Notice term deposits offer rates more in line with the other Big Four banks. These rates go as high as 3.65% for a 12 month term, and there is a 31-day notice period to withdraw early.
You can invest between $5,000 and $2 million.
Our expert says: Check for special offers
"The Big Four banks don't often offer the best term deposit rates in the market on a day-to-day basis. However, something that they often do have is special offer term deposit rates. These include higher rates on particular term lengths for a limited time, usually if you apply online, and these rates are often among the best in the market.
So before you settle on a term deposit, check if the Big Four have any special offers running on a different term length."
Who offers better term deposit rates than the Big Four?
You can currently get 5% or slightly higher with 12- to 24-month term deposits from a few banks:
Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseFinder Score for term deposits
Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
What are the pros and cons of a Big Four bank term deposit?
Pros
- If you already bank with one of the Big Four then setting up a term deposit account should be quick and easy.
- The Big Four banks have very helpful apps and online banking systems, making it easy for you to track and manage your investment.
- You can talk to staff in a bank branch if you need some in-person help with your term deposit.
Cons
- While some of the Big Four have reasonably high term deposit rates, they do not have the best rates in the market. Some have rates that are pretty close though.
Frequently Asked Questions
More resources on Finder
More guides on Finder
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UniBank Term Deposit
Lock in a fixed rate on a range of term lengths between 3 months and 3 years for deposits $1000 or more.
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Australian Unity Term Deposit
Australian Unity Term Deposit offers you a wide choice of term lengths for your investment, with a fixed rate of return on your money.
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Heartland Bank Term Deposit
Earn a competitive interest rate on terms between 1 month and 2 years with a Heartland Bank term deposit.
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Locked savings accounts
If you struggle to save, you could benefit from a savings account that won’t allow you to withdraw funds.
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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.
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When will term deposit rates go up?
When can you expect term deposit interest rates to increase? Find out in this handy guide.
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Are term deposits safe?
They offer a fixed interest rate (so you don't need to worry about any market volatility) and your deposit up to $250,000 is protected by the government.
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Term deposit accounts for kids
Your guide to finding the best term deposit accounts for kids, allowing your children to enjoy the security of guaranteed returns on the money they invest.
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Historical term deposit interest rates
If you trying to decide on the best time to invest in a term deposit, start here. See the past interest rates on term deposits from 1985 until now.