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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
Fees and pricing ↗

At a glance

Best rate
5.45% for 6m
12 months
5.35%
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.

This term deposit: 5.25%Every other institution's highest, 54 in all

Best rate for 3 months. One dot per institution, at its highest 3-month term deposit rate anyone can apply for; hover or tap a dot for its name.

RateThis term depositBest anywhereTypical institutionWhere it sits
3-month term depositBest rate for 3 months5.25%5.30%Heartland Bank's Broker Term Deposit4.60%of 55 institutions2nd highest of 55, level with one other
6-month term depositBest rate for 6 months5.45%5.47%Heartland Bank's Broker Term Deposit5.10%of 63 institutions2nd highest of 63, level with 2 others
12-month term depositBest rate for 12 months5.35%5.75%Suncorp Bank's Term Deposit5.30%of 65 institutions18th highest of 65, level with 9 others
2-year term depositBest rate for 2 years3.30%5.60%Judo Bank's Personal Term Deposits4.90%of 55 institutions52nd highest of 55
3-year term depositBest rate for 3 years3.30%5.60%Judo Bank's Personal Term Deposits4.25%of 44 institutions38th highest of 44, level with one other
5-year term depositBest rate for 5 years3.30%5.65%Judo Bank's Personal Term Deposits4.00%of 27 institutions22nd highest of 27

Rates

Every rate RACQ Bank publishes for this term deposit, 16 in all.

Its best rate at each term

  1. 1 mo0.55%
  2. 2 mo1.60%
  3. 3 motypical 4.60%5.25%
  4. 4 mo3.50%
  5. 5 mo3.50%
  6. 6 motypical 5.10%5.45%
  7. 7 mo3.50%
  8. 8 mo3.50%
  9. 9 mo3.75%
  10. 10 mo3.50%
  11. 11 mo3.50%
  12. 1 yrtypical 5.30%5.35%
  13. 2 yrstypical 4.90%3.30%
  14. 3 yrstypical 4.25%3.30%
  15. 4 yrs3.30%
  16. 5 yrstypical 4.00%3.30%
This term depositTypical institution's best for the term
TypeApplies toTermBandRateComparisonConditions
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

Fees

One fee published, grouped by when they're charged.

When particular things happen1

  • Early Redemption

    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…

    Varies

Features

Digital banking

Eligibility and limits

  • Minimum age 13
  • Residency: Australian Resident
  • Minimum balance $1,000
  • Opening balance $1,000

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.