Last updated: October 2026
Best 2-Year Term Deposit Rates Australia (Updated Daily)
Compare the highest 2-year term deposit rates. Ideal if you expect rates to fall and want to lock in today's returns for longer.
- ✓ Focused on 2-year term deposits only
- ✓ Sorted by ongoing rates (not intro offers)
- ✓ Ideal for locking in certainty over two years
- ✓ 72 banks compared
Who 2-year term deposits are best for
- → You're confident current rates are near their peak
- → You want to lock in returns for 2 years
- → You don't need access to funds until maturity
Quick picks — 2-year rates
- Highest 2-year rate Suncorp Bank — p.a.
- Monthly income option Judo Bank — p.a.
- Popular mainstream option Commonwealth Bank — p.a.
All 2-Year Term Deposit Rates
Two-year rates can be competitive when banks want to lock in funding for longer. Compare carefully — some offer monthly interest payments, which suits retirees or those wanting regular income.
We rank products by ongoing rates — not temporary introductory offers — so the results reflect what you'll actually earn.
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Timing matters on longer terms — we'll alert you when 2-year rates move.
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Why choose a 2-year term?
A 2-year term deposit rewards patience. Banks typically offer higher rates for a 2-year commitment than for 12 or 18 months, as compensation for the longer lockup.
This term makes most sense when rates are high and you believe they'll fall — locking in a high rate for 2 years means you still earn well even after the Reserve Bank cuts.