Every Australian bank's best published term deposit rate for your term, highest first, with the interest you'd keep after tax, from the Consumer Data Right.
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Best rate
5.75%
Suncorp Bank
Market average
5.23%
across 65 banks
Worst rate
2.85%
Central West Credit Union Ltd
Best vs worst
$1,015
over 12mo, after tax
Each bank's best rate for the term, as published under the Consumer Data Right on 7 November 2026. Confirm on the bank's product page before applying.
Net interest is what you actually keep after your marginal tax rate.
| Bank | Rate | Gross interest | Net interest | At maturity |
|---|---|---|---|---|
| Suncorp BankTerm Deposit | 5.75% | $2,875 | $2,012 | $52,013 |
| AMP Bank GOAMP Bank GO 12 Month Term Deposit | 5.70% | $2,850 | $1,995 | $51,995 |
| Heartland BankBroker Term Deposit | 5.62% | $2,810 | $1,967 | $51,967 |
| Bank AustraliaTerm Deposit 12 months | 5.60% | $2,800 | $1,960 | $51,960 |
| Qudos BankTerm Deposits | 5.60% | $2,800 | $1,960 | $51,960 |
The comparator ranks every Australian bank's best published term deposit rate for the term you choose, and works out the interest on your deposit before and after tax. Banks, building societies and credit unions must publish every term deposit they offer under the Consumer Data Right, and this site reads all of them every night. For each bank the comparator takes its highest rate for the term across the deposits anyone can open, so you can see the spread from the highest to the lowest and what it's worth on your amount. Confirm the rate and conditions on the bank's own page before you open an account.
As of 7 November 2026, the highest savings rate is 5.75%, from Defence Bank Limited's iSaver, while the typical best across 73 institutions is 4.85%. The highest 12-month term deposit rate is 5.75%, from Suncorp Bank's Term Deposit, while the typical best across 65 institutions is 5.30%. Prices rose 4.3% in the year to September 2026, so savings earning less than that lose ground to inflation, before tax.
Alex wants to invest $50,000 for 1 year. He uses the comparator and finds Bank A offers 5.10%, Bank B 4.75%, and Credit Union X 5.35% (at maturity; no fees).
By choosing the 5.35% rate, Alex earns $2,675 in gross interest vs $2,375 at 4.75%. After tax (30% marginal rate), the difference is $210 more per year. Over several years or larger deposits, this difference compounds further.
Priya splits $100,000 into four 25k term deposits (3, 6, 12, and 24 months) after comparing rates. She always has one maturing within the next 6 months, giving both flexibility and access to sharper new rates.
Priya earns more and reduces the risk of missing out on future rate hikes, while preserving liquidity for emergencies.