RACQ Bank
Term Deposit
A Term Deposit is an investment account where the interest rate is guaranteed not to change for the whole of the nominated term. It gives you the security of knowing that your interest income is protected against changes in market conditions.
Term depositsBank updated 3 Sept 2026
At a glance
- Best rate
- 5.45% for 6m
- 12 months
- 5.35%
- Min deposit
- $1,000
§ 01 — Rates · 16
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 1 mo | — | 0.55% | — | paid at maturity; paid every 1 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 10 mo | — | 3.50% | — | paid at maturity; paid every 10 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 11 mo | — | 3.50% | — | paid at maturity; paid every 11 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 1 yr | — | 5.35% | — | paid at maturity; paid every 1 yr |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 2 mo | — | 1.60% | — | paid at maturity; paid every 2 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 2 yrs | — | 3.30% | — | paid at maturity; paid every 1 yr |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 3 mo | — | 5.25% | — | paid at maturity; paid every 3 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 3 yrs | — | 3.30% | — | paid at maturity; paid every 1 yr |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 4 mo | — | 3.50% | — | paid at maturity; paid every 4 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 4 yrs | — | 3.30% | — | paid at maturity; paid every 1 yr |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 5 mo | — | 3.50% | — | paid at maturity; paid every 5 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 6 mo | — | 5.45% | — | paid at maturity; paid every 6 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 5 yrs | — | 3.30% | — | paid at maturity; paid every 1 yr |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 7 mo | — | 3.50% | — | paid at maturity; paid every 7 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 8 mo | — | 3.50% | — | paid at maturity; paid every 8 mo |
| FixedInterest is paid at maturity or annually if term exceeds 12 months. Rates for deposits over $1m are available on request. | — | 9 mo | — | 3.75% | — | paid at maturity; paid every 9 mo |
§ 02 — Fees · 1
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Early Redemption | Variation | Varies | — | If you withdraw your Term Deposit before the maturity date, an Early Redemption fee (i.e. Early redemption interest adjustment) will apply based on the proportion of the term completed. An early rede… |
§ 03 — Features
Digital banking
§ 04 — Eligibility & limits
- · Minimum age 13
- · Residency: Australian Resident
- · Minimum balance $1,000
- · Opening balance $1,000
§ 06 — Run the numbers
Put this product through a calculator
Published by RACQ Bank under the Consumer Data Right, last changed by them on 3 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.