Will the amount shown on the calculator be exactly the same as the amount of interest I earn?

Because of the structure of a term deposit account it should be fairly accurate, although there may be other factors not taken into consideration that could affect the amount of interest paid to you.

The term I chose is for four years, but that is not given as an option. What should I do?

The calculator recognises terms in months, so you only need to multiply the number of years by 12. For example, in this case you would choose a 48 month term for four years.

I want to make at least $500 in interest, how would I figure that out?

You would have to play with the numbers that you insert into the field, particularly the length of terms as this is the option you have the most control over, until you come out with the earnings you are striving for.

Can I use this calculator for a regular savings account?

No, it won't work for a savings account. There are other variables to consider with a typical high interest savings account that are not needed with the term deposit calculator. If you are interested in comparing the interest earning benefits of both types of accounts, you can see a savings account vs term deposit calculator that could help.

Term deposit calculator

Deposit amount

Interest rate (p.a.)

Term (months)

Interest paid

Deposit

Total Interest

Yield Rate

*Whilst every effort has been made to ensure the accuracy of this calculator, the results should only be used as an indication. They are neither a recommendation nor an eligibility test for any product and should not be construed as financial advice, investment advice or any other sort of advice.

How do I use the term deposit calculator?

Fill in the relevant fields with your information and within seconds you'll have the details you need to help you decide which term deposit to choose:

Deposit amount. This is the amount of money you plan to invest into the term deposit account.
Term length. Enter the number of months you will be investing for (you can change this to see how it impacts the total interest earned).
Interest rate. Enter the fixed interest rate for the term deposit you are planning to go with (you can compare term deposits in the table below). Pay attention to the details, as in most cases that amount will be different depending on a number of factors including; the length of terms, how much you invest, and how often you are receiving interest payments.

How can the term deposit calculator help me?

There are a few ways the term deposit calculator can help you make a better decision with your money.

See your exact return on investment. Because term deposit rates are fixed, you'll be able to see the exact dollar amount of interest you'll earn. This can help you plan and make long-term goals.
Choose the right term length. By changing the term length in the calculator, you can easily see how the total interest earned changes.
See how much the rate impacts your investment. If you're investing a large amount of money, the calculator can show you how much extra interest you can earn with a slightly higher rate.

Current term deposit rates

1 - 10 of 157

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.
Newcastle Permanent Term Deposit $1,000 min. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.00%	5 Mths p.a. 4.00%	6 Mths p.a. 4.65%	7 Mths p.a. 3.80%	11 Mths p.a. -	12 Mths p.a. 4.45%	24 Mths p.a. 4.00%	Go to site More info Compare	Lock in a rate as high as 4.65% for 6 months with a minimum $1,000 deposit.
Judo Bank Term Deposit Finder Award$1,000 min. deposit	3 Mths p.a. 4.75%	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.90%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.75%	24 Mths p.a. 4.55%	Go to site More info Compare	You can get competitive interest rates on all term lengths. This term deposit has a low minimum deposit amount and is a 2025 Finder Award winner.
Community First Bank 6 month Term Deposit Offer $50,000 min. deposit$1,000,000 max. deposit	3 Mths p.a. -	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.80%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. -	24 Mths p.a. -	Go to site More info Compare
MyState Bank Online Term Deposit $5,000 min. deposit$50,000,000 max. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.20%	5 Mths p.a. 4.60%	6 Mths p.a. 4.75%	7 Mths p.a. 4.60%	11 Mths p.a. 4.40%	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	More info Compare	Lock in competitive rates and pay no monthly account fees with this online term deposit.
Bankwest Term Deposit $1,000 min. deposit$10,000,000 max. deposit	3 Mths p.a. 3.75%	4 Mths p.a. 3.00%	5 Mths p.a. 4.75%	6 Mths p.a. 4.25%	7 Mths p.a. 4.00%	11 Mths p.a. 4.00%	12 Mths p.a. 4.50%	24 Mths p.a. 3.90%	More info Compare
BCU Term Deposit $1,000 min. deposit$999,999 max. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.00%	5 Mths p.a. 4.65%	6 Mths p.a. 4.45%	7 Mths p.a. 3.85%	11 Mths p.a. 3.70%	12 Mths p.a. 4.40%	24 Mths p.a. 3.65%	More info Compare
Rabobank Term Deposit (SMSF) $1,000 min. deposit$2,000,000 max. deposit	3 Mths p.a. 4.55%	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.40%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.30%	24 Mths p.a. 4.10%	More info Compare
Australian Unity Term Deposit $5,000 min. deposit	3 Mths p.a. 4.40%	4 Mths p.a. 0.90%	5 Mths p.a. 0.90%	6 Mths p.a. 4.45%	7 Mths p.a. 1.25%	11 Mths p.a. 1.50%	12 Mths p.a. 4.30%	24 Mths p.a. 3.70%	More info Compare
Rabobank Term Deposit $1,000 min. deposit$2,000,000 max. deposit	3 Mths p.a. 4.55%	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. 4.40%	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.30%	24 Mths p.a. 4.10%	More info Compare
ING Term Deposit $10,000 min. deposit	3 Mths p.a. 4.35%	4 Mths p.a. 4.35%	5 Mths p.a. -	6 Mths p.a. 4.40%	7 Mths p.a. 4.50%	11 Mths p.a. 4.30%	12 Mths p.a. 4.30%	24 Mths p.a. 3.90%	More info Compare

Showing 10 of 157 results

Frequently asked questions

No, it won't work for a savings account. There are other variables to consider with a typical high interest savings account that are not needed with the term deposit calculator. If you are interested in comparing the interest earning benefits of both types of accounts, you can see a savings account vs term deposit calculator that could help.

Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.

Written by

Alison Banney

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

Alison's expertise

Alison has written 638 Finder guides across topics including:

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

More resources on Finder

Australian Military Bank Investment Plus People’s Choice Credit Union Term Investment

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6 Responses

CazJuly 19, 2023

I need to earn the best interest on 1Million for 3 months were would you suggest I do so

Finder

AlisonAugust 1, 2023Finder

Hi Caz, you can compare current term deposit rates here: https://www.finder.com.au/term-deposits

steveMarch 28, 2022

i put $5000 in a fixed term deposit with com bank in 1980
what would the value be now?

Finder

AlisonApril 6, 2022Finder

Hi Steve,

We’d suggest you get in touch with CommBank directly to speak about your term deposit account. Term deposits usually are opened for a maximum period of 5 years, after this, they may roll over into another term of the same length but with the current interest rate. Interest rates have changed a lot since 1980, so the rate that you were getting when you first opened the account wouldn’t be what you’re getting now.

I’d recommend speaking with CommBank directly.

Thanks,
Alison

JohnFebruary 10, 2018

I will soon be investing $98000.00. Where can I find the best term deposit with no fees for 24 months. Thanks

Finder

MayMarch 2, 2018Finder

Hi John,

Thanks for your inquiry.

Sorry for the delayed reply. Usually, term deposit accounts do not charge a fee, but some banks may charge fees. You can compare your term deposit options. I would suggest that you play with the calculator on top of the table on that page by entering your deposit and term of investment to be able to compare the results.

When choosing an account, it’s ways best to consider some factors like interest rates on the term deposit, what happens if you break the term of your deposit, any ongoing fees that may apply, etc. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

Cheers,
May

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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.
Term deposit maturity options
When your term deposit matures it's time to decide the next move for your money. Here are your options, including term deposit rollover (tdr).
Term deposit penalties
Want to withdraw money from your term deposit before it matures? Penalties apply, so check out this guide to term deposit penalties and how they will affect you.
Compare term deposits with loyalty bonuses
Term deposits with loyalty bonuses reward customers for their ongoing business by offering a bonus interest rate on term deposit balances.
People’s Choice Credit Union Term Investment
Set your own terms and conditions for how your money grows with a flexible investment account that rewards you with higher interest earnings.
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.
Notice Savers: A mix between a savings account and term deposit
The added level of control coupled with the high interest earning potential of notice savers makes this a savings account worth considering. Ensure that you understand exactly how it works, and if it will fit in with your financial goals before making a final decision.

Term deposit calculator

Use our term deposit calculator to see how much interest you can earn. Plus, compare current rates for term deposits.