Last updated: August 2026

Best Term Deposit Rates Australia

Compare the highest ongoing term deposit rates across all terms.

✓ Updated regularly with the latest rates
✓ Sorted by ongoing rates (not intro offers)
✓ Compare multiple term lengths in one place

Quick picks

Highest rate right now Judo Bank — 5.50% for 5yr
Best short-term option MOVE Bank — 5.35% for 6mo
Popular balanced option Heartland Bank — 5.40% for 1yr

Looking for flexibility? View 6-month term deposits →

Want a popular middle ground? View 12-month term deposits →

Top Rates Across All Terms

Bank / Provider	Rate p.a.	Term	Pays	Min. Deposit
Judo Bank Challenger Top rate	5.50%	5yr	annually	—
Judo Bank Challenger	5.40%	2yr	annually	—
Judo Bank Challenger	5.40%	3yr	annually	—
Heartland Bank Challenger Balanced	5.40%	1yr	At maturity	$5,000
MOVE Bank Neo	5.40%	1yr	annually	$5,000
ME Bank Challenger	5.35%	1yr	At maturity	$5,000
AMP Bank Challenger	5.35%	1yr	At maturity	$25,000
Suncorp Bank Challenger	5.35%	1yr	At maturity	$5,000
MOVE Bank Neo	5.35%	2yr	annually	$5,000
MOVE Bank Neo	5.35%	18mo	annually	$5,000
MOVE Bank Neo Short term	5.35%	6mo	At maturity	$5,000
Judo Bank Challenger	5.35%	1yr	At maturity	$1,000
RACQ Bank Challenger	5.35%	1yr	At maturity	$1,000
Heartland Bank Challenger	5.30%	6mo	semi annually	$5,000
RACQ Bank Challenger	5.30%	6mo	semi annually	$1,000

Unlike many comparison sites, we prioritise ongoing interest rates rather than temporary introductory offers, so the rankings better reflect what you are likely to earn. Some products may have conditions (e.g. minimum balance or age requirements).

Showing top 15 rates by rate across all terms. View all lenders.

Rates can change regularly — check back or get weekly updates.

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Compare by term

3-Month term deposits 6-Month term deposits 1-Year term deposits 18-Month term deposits 2-Year term deposits 3-Year term deposits 5-Year term deposits

About term deposits

A term deposit locks your money with a bank for a fixed period in exchange for a guaranteed interest rate. Higher rates generally require a longer commitment — but shorter terms give you flexibility to reinvest when rates move. Challenger banks and credit unions consistently offer better rates than the Big 4. Minimum deposit requirements vary; some of the top rates require $10,000 or more. Check the "Pays" column — monthly interest pays slightly less than at maturity in most cases.