Best 6 Month Term Deposit Rates Australia
All current 6 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 | Semi-annually | $10k | |
| #2 | Rabobank Challenger | Semi-annually | $500k | |
| #3 | Bank Australia Credit union | Semi-annually | $500 | |
| #4 | Rabobank Challenger | At maturity | $5k | |
| #5 | Suncorp Bank Challenger | Semi-annually | $5k | |
| #6 | People's Choice Credit union | Semi-annually | — | |
| #7 | Macquarie Bank Neo | Semi-annually | — | |
| #8 | Judo Bank Challenger | Semi-annually | — | |
| #9 | Greater Bank Credit union | Semi-annually | $5k | |
| #10 | Macquarie Bank Neo | Quarterly | — | |
| #11 | Bank Australia Credit union | Monthly | $500 | |
| #12 | Macquarie Bank Neo | Monthly | — | |
| #13 | ME Bank Challenger | Semi-annually | $5k | |
| #14 | People's Choice Credit union | Monthly | $1k | |
| #15 | Judo Bank Challenger | Monthly | — | |
| #16 | Greater Bank Credit union | Monthly | $5k | |
| #17 | IMB Bank Credit union | Semi-annually | $5k | |
| #18 | Southern Cross CU Credit union | Monthly | $5k | |
| #19 | Southern Cross CU Credit union | At maturity | $5k | |
| #20 | Beyond Bank Credit union | Semi-annually | $200k | |
| #21 | Great Southern Bank Credit union | Semi-annually | — | |
| #22 | Commonwealth Bank Big4 | Semi-annually | — | |
| #23 | Great Southern Bank Credit union | 4.45% | Monthly | — |
| #24 | BCU Bank Credit union | 4.45% | Semi-annually | $1k |
| #25 | Teachers Mutual Bank Credit union | 4.45% | Semi-annually | $1k |
| #26 | BCU Bank Credit union | 4.40% | At maturity | $5k |
| #27 | RACQ Bank Challenger | 4.40% | Semi-annually | — |
| #28 | NAB Big4 | 4.40% | Semi-annually | $1k |
| #29 | Defence Bank Credit union | 4.25% | Semi-annually | — |
| #30 | Teachers Mutual Bank Credit union | 4.05% | At maturity | $1k |
| #31 | Bankwest Challenger | 4.00% | Semi-annually | $1k |
| #32 | UBank Neo | 3.90% | At maturity | $10k |
| #33 | Bendigo Bank Challenger | 3.85% | Semi-annually | — |
| #34 | Commonwealth Bank Big4 | 3.50% | Annually | $50k |
| #35 | Commonwealth Bank Big4 | 3.45% | Monthly | $50k |
| #36 | ANZ Big4 | 3.30% | At maturity | — |
| #37 | ANZ Big4 | 3.29% | Quarterly | — |
| #38 | ANZ Big4 | 3.28% | Monthly | — |
| #39 | Bendigo Bank Challenger | 3.20% | Monthly | — |
| #40 | St George Bank Challenger | 3.10% | Semi-annually | $1k |
| #41 | Bank of Melbourne Challenger | 3.10% | Semi-annually | $1k |
| #42 | BankSA Challenger | 3.10% | Semi-annually | $1k |
| #43 | Westpac Big4 | 3.10% | Monthly | $1k |
| #44 | Westpac Big4 | 3.10% | Semi-annually | $5k |
| #45 | BankSA Challenger | 3.05% | Monthly | $1k |
| #46 | St George Bank Challenger | 3.05% | Monthly | $1k |
| #47 | Bank of Melbourne Challenger | 3.05% | Monthly | $1k |
| #48 | Bendigo Bank Challenger | 2.95% | Quarterly | $5k |
| #49 | AMP Bank Challenger | 1.50% | Monthly | — |
🔔 Rates change frequently. Get a free email when they do.
Why choose a 6 month term deposit?
A 6 month term deposit suits savers who want a guaranteed rate but aren't ready to commit for a full year. It's a good option if you expect to need your money within 12 months, or if you think rates might rise — you can roll over at a better rate sooner.
6 month rates are generally slightly lower than 12 month rates, but the gap varies by lender. Some challenger banks offer competitive 6 month rates to attract short-term deposits.
Compare other terms: 3 month rates 12 month rates 2 year rates · All term deposit rates
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