Last updated: July 2026
Best 12-Month Term Deposit Rates Australia (Updated Daily)
Compare the highest ongoing 12-month term deposit rates. Sorted by real returns, not temporary intro offers.
- ✓ Focused on 12-month term deposits only
- ✓ Sorted by ongoing rates (not intro offers)
- ✓ Ideal for predictable, fixed returns
Who 12-month term deposits are best for
- → You want predictable returns for the next year
- → You don't want to lock in for multiple years
- → You think rates may fall or stay stable
Quick picks — 12-month rates
- Highest 12-month rate Heartland Bank — p.a.
- Monthly income option Heartland Bank — p.a.
- Popular mainstream option ANZ — p.a.
All 12-Month Term Deposit Rates
Right now, many of the top rates are concentrated in 12-month terms, making them a strong middle ground between flexibility and return.
We rank products by ongoing interest rates — not temporary introductory offers — so the results better reflect what you'll actually earn.
Most people check rates weekly — we'll send you the best changes.
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Why 12-month term deposits?
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 regular income from your deposit, look for lenders offering monthly payments without a significant rate penalty.