Compare the highest term deposit rates – January 2024 At the time of writing, the best interest rate listed on Canstar’s database for a term deposit of $10,000 is 5.30% for a one-year term.
Term deposit rates vary depending on how much you wish to invest and for how long. Now with the Reserve Bank of Australia raising the cash rate again in November, interest rates are predicted to not go down anytime soon, which can be good news for savers.
Term deposit rates climbed throughout 2022 and early 2023. Looking to invest your money in a term deposit? Here are some of the highest interest rates for term deposits in Australia, based on the products on Canstar’s database.Ī term deposit could be worth considering if you are looking for a lower-risk investment where you will earn a fixed rate of interest.
