Term Deposit
Let us help you reach your investment goals sooner with a high interest term deposit.
Term depositsBank updated 23 Sept 2026
At a glance
- Best rate
- 5.45% for 7m
- 12 months
- 5.20%
- Min deposit
- $1,000
How it compares
This term deposit in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This term deposit | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| 3-month term depositBest rate for 3 months | 4.00% | 5.30%Heartland Bank's Broker Term Deposit | 4.60%of 55 institutions | 42nd highest of 55, level with one other |
| 6-month term depositBest rate for 6 months | 5.00% | 5.47%Heartland Bank's Broker Term Deposit | 5.10%of 63 institutions | 36th highest of 63, level with 3 others |
| 12-month term depositBest rate for 12 months | 5.20% | 5.75%Suncorp Bank's Term Deposit | 5.30%of 65 institutions | 47th highest of 65, level with 5 others |
| 2-year term depositBest rate for 2 years | 5.25% | 5.60%Judo Bank's Personal Term Deposits | 4.90%of 55 institutions | 9th highest of 55, level with 2 others |
| 3-year term depositBest rate for 3 years | 5.25% | 5.60%Judo Bank's Personal Term Deposits | 4.25%of 44 institutions | 4th highest of 44 |
| 5-year term depositBest rate for 5 years | 5.25% | 5.65%Judo Bank's Personal Term Deposits | 4.00%of 27 institutions | 6th highest of 27 |
Rates
Every rate Heritage publishes for this term deposit, 21 in all.
Its best rate at each term
- 1 mo2.25%
- 2 mo3.00%
- 3 motypical 4.60%4.00%
- 4 mo4.85%
- 5 mo4.00%
- 6 motypical 5.10%5.00%
- 7 mo5.45%
- 8 mo4.50%
- 9 mo5.10%
- 10 mo4.50%
- 11 mo4.50%
- 1 yrtypical 5.30%5.20%
- 2 yrstypical 4.90%5.25%
- 3 yrstypical 4.25%5.25%
- 4 yrs5.25%
- 5 yrstypical 4.00%5.25%
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| FixedA reduced rate of interest will be paid for early maturity. | - | 1 mo | $1,000+ | 2.25% | - | paid at maturity; paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 10 mo | $1,000+ | 4.50% | - | paid at maturity; paid every 10 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 11 mo | $1,000+ | 4.50% | - | paid at maturity; paid every 11 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 1 yr | $1,000+ | 5.10% | - | paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 1 yr | $1,000+ | 5.20% | - | paid at maturity; paid every 1 yr |
| FixedA reduced rate of interest will be paid for early maturity. | - | 2 mo | $1,000+ | 3.00% | - | paid at maturity; paid every 2 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 2 yrs | $1,000+ | 5.15% | - | paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 2 yrs | $1,000+ | 5.25% | - | paid every 1 yr |
| FixedA reduced rate of interest will be paid for early maturity. | - | 3 mo | $1,000+ | 4.00% | - | paid at maturity; paid every 3 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 3 yrs | $1,000+ | 5.15% | - | paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 3 yrs | $1,000+ | 5.25% | - | paid every 1 yr |
| FixedA reduced rate of interest will be paid for early maturity. | - | 4 mo | $1,000+ | 4.85% | - | paid at maturity; paid every 4 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 4 yrs | $1,000+ | 5.15% | - | paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 4 yrs | $1,000+ | 5.25% | - | paid every 1 yr |
| FixedA reduced rate of interest will be paid for early maturity. | - | 5 mo | $1,000+ | 4.00% | - | paid at maturity; paid every 5 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 6 mo | $1,000+ | 5.00% | - | paid at maturity; paid every 6 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 5 yrs | $1,000+ | 5.15% | - | paid every 1 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 5 yrs | $1,000+ | 5.25% | - | paid every 1 yr |
| FixedA reduced rate of interest will be paid for early maturity. | - | 7 mo | $1,000+ | 5.45% | - | paid at maturity; paid every 7 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 8 mo | $1,000+ | 4.50% | - | paid at maturity; paid every 8 mo |
| FixedA reduced rate of interest will be paid for early maturity. | - | 9 mo | $1,000+ | 5.10% | - | paid at maturity; paid every 9 mo |
Rate changes
9 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 23 Sept 2026 | Fixed, 2 yrs, $1,000+ | 4.65% | 5.15% | up 0.50 |
| 23 Sept 2026 | Fixed, 2 yrs, $1,000+ | 4.75% | 5.25% | up 0.50 |
| 23 Sept 2026 | Fixed, 3 yrs, $1,000+ | 4.65% | 5.15% | up 0.50 |
| 23 Sept 2026 | Fixed, 3 yrs, $1,000+ | 4.75% | 5.25% | up 0.50 |
| 23 Sept 2026 | Fixed, 4 yrs, $1,000+ | 4.65% | 5.15% | up 0.50 |
| 23 Sept 2026 | Fixed, 4 yrs, $1,000+ | 4.75% | 5.25% | up 0.50 |
| 23 Sept 2026 | Fixed, 5 yrs, $1,000+ | 4.65% | 5.15% | up 0.50 |
| 23 Sept 2026 | Fixed, 5 yrs, $1,000+ | 4.75% | 5.25% | up 0.50 |
| 23 Sept 2026 | Fixed, 7 mo, $1,000+ | 5.35% | 5.45% | up 0.10 |
Each change is logged the night it appears in the rates People First and Heritage Bank publishes. See how every lender answered the RBA on the rate tracker.
Features
Digital bankingHeritage Credits is Heritage's loyalty program
- Government Deposit Guarantee
- SMS Services
- If you need to withdraw your Term Deposit before it matures you may need to give us 31 days notice.
Eligibility and limits
- Minimum balance $1,000
- Opening balance $1,000
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Published by People First and Heritage Bank under the Consumer Data Right, last changed by them on 23 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.