Best 12 Month Term Deposit Rates Australia
All current 12 month term deposit rates from Australian banks, ranked by rate. Updated daily.
| Rank | Lender | Rate p.a. | Interest paid | Min deposit |
|---|---|---|---|---|
| #1 | Heartland Bank Challenger | At maturity | $10k | |
| #2 | RACQ Bank Challenger | At maturity | — | |
| #3 | Rabobank Challenger | Annually | $500k | |
| #4 | Bank Australia Credit union | At maturity | $500 | |
| #5 | Great Southern Bank Credit union | Annually | — | |
| #6 | Judo Bank Challenger | Annually | — | |
| #7 | Rabobank Challenger | Semi-annually | $500k | |
| #8 | People's Choice Credit union | Annually | — | |
| #9 | Macquarie Bank Neo | At maturity | — | |
| #10 | Judo Bank Challenger | Monthly | — | |
| #11 | Great Southern Bank Credit union | Monthly | — | |
| #12 | Rabobank Challenger | Quarterly | $500k | |
| #13 | ING Challenger | Annually | — | |
| #14 | Rabobank Challenger | Monthly | $500k | |
| #15 | Macquarie Bank Neo | Semi-annually | — | |
| #16 | Macquarie Bank Neo | Quarterly | — | |
| #17 | Greater Bank Credit union | At maturity | $5k | |
| #18 | People's Choice Credit union | Monthly | $1k | |
| #19 | Macquarie Bank Neo | Monthly | — | |
| #20 | St George Bank Challenger | At maturity | $1k | |
| #21 | NAB Big4 | At maturity | $5k | |
| #22 | IMB Bank Credit union | At maturity | $5k | |
| #23 | Suncorp Bank Challenger | At maturity | $5k | |
| #24 | BankSA Challenger | At maturity | $1k | |
| #25 | Bank of Melbourne Challenger | At maturity | $1k | |
| #26 | Teachers Mutual Bank Credit union | At maturity | $1k | |
| #27 | NAB Big4 | Semi-annually | $5k | |
| #28 | Southern Cross CU Credit union | At maturity | $5k | |
| #29 | Southern Cross CU Credit union | Monthly | $5k | |
| #30 | NAB Big4 | Quarterly | $5k | |
| #31 | Bankwest Challenger | At maturity | $1k | |
| #32 | NAB Big4 | Monthly | $5k | |
| #33 | BCU Bank Credit union | At maturity | $1k | |
| #34 | ANZ Big4 | Annually | — | |
| #35 | Beyond Bank Credit union | At maturity | $200k | |
| #36 | Beyond Bank Credit union | Semi-annually | $200k | |
| #37 | Westpac Big4 | Annually | $5k | |
| #38 | IMB Bank Credit union | Monthly | $5k | |
| #39 | Bankwest Challenger | Semi-annually | $1k | |
| #40 | ANZ Big4 | Semi-annually | — | |
| #41 | ANZ Big4 | Quarterly | — | |
| #42 | Bankwest Challenger | Quarterly | $1k | |
| #43 | ANZ Big4 | Monthly | — | |
| #44 | Bankwest Challenger | Monthly | $1k | |
| #45 | UBank Neo | At maturity | $10k | |
| #46 | Commonwealth Bank Big4 | At maturity | — | |
| #47 | Defence Bank Credit union | Annually | — | |
| #48 | Bendigo Bank Challenger | At maturity | $5k | |
| #49 | Commonwealth Bank Big4 | Semi-annually | — | |
| #50 | Commonwealth Bank Big4 | Annually | $5k | |
| #51 | Bendigo Bank Challenger | Monthly | $5k | |
| #52 | Bendigo Bank Challenger | Semi-annually | $5k | |
| #53 | Bendigo Bank Challenger | Quarterly | $5k | |
| #54 | BCU Bank Credit union | 4.15% | Semi-annually | $1k |
| #55 | BCU Bank Credit union | 4.02% | Quarterly | $1k |
| #56 | Bendigo Bank Challenger | 4.00% | Annually | — |
| #57 | Westpac Big4 | 3.95% | At maturity | $1k |
| #58 | St George Bank Challenger | 3.90% | Monthly | $1k |
| #59 | Westpac Big4 | 3.90% | Semi-annually | $5k |
| #60 | Bank of Melbourne Challenger | 3.90% | Monthly | $1k |
| #61 | Bank of Melbourne Challenger | 3.90% | Semi-annually | $1k |
| #62 | Westpac Big4 | 3.90% | Monthly | $1k |
| #63 | BankSA Challenger | 3.90% | Monthly | $1k |
| #64 | St George Bank Challenger | 3.90% | Semi-annually | $1k |
| #65 | BankSA Challenger | 3.90% | Semi-annually | $1k |
🔔 Rates change frequently. Get a free email when they do.
Why choose a 12 month term deposit?
The 12 month term is the most popular choice for Australian savers. It balances a competitive rate with the flexibility of not locking your money away for too long. Most banks offer their best rates at the 1 year mark, making it the sweet spot for many depositors.
Interest is usually paid at maturity or monthly — check the table above. If you need income from your deposit, look for lenders offering monthly payments without a significant rate penalty.
Compare other terms: 3 month rates 6 month rates 2 year rates · All term deposit rates
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