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Savings · vs term deposit

Savings account vs term deposit

The highest savings rate with no monthly conditions (the No Hoops leaderboard's first) against the highest term deposit rate at each term that takes your balance (term deposit leaderboards).

AMP GOAMP Bank GO SaveHighest savings rate · nothing to do each month
vs
CommFCUCommFCU 12 Month Term Deposit SpecialHighest 12-month term deposit rate on $50k
Compare on
Interest over 1 year on $50,000
$2,750
5.50% a year
$2,800
5.60% a year · paid at maturity

Over 1 year on $50,000, AMP Bank GO Save pays $2,750; CommFCU's 12-month term deposit pays $2,800.

Worked out on $50,000 until you pick a balance
AMP GOAMP Bank GO Save
CommFCUCommFCU term deposit
Interest over 1 year
on $50,000
$2,750
nothing to do each month
$2,800
paid at maturity
+$50 · More interest over the term
Rate over the term
a year, on $50,000
5.50%
5.60%
fixed for the term
+0.10 · Higher rate over the term
Asked of you each month
Nothing
Nothing
the money stays put
Getting the money out
Any time
no notice needed
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$10,000
up to $1,000,000
Who can open it
Anyone 15 or over
Anyone

How they differ

  • A savings rate can change at any time. AMP Bank GO Save's figure holds today's rate for 1 year.
  • A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
  • Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank; money at two different banks is covered at each.

At one bank

A bank's savings account against its own term deposit.

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AMP Bank GO Save
Go to siteMore about this account
CommFCU 12 Month Term Deposit Special
Go to siteAll CommFCU term deposits

As of 26 October 2026, over 1 year on $50,000, the highest savings rate with no monthly conditions tracked by BankMate, AMP Bank GO Save, pays $2,750; the highest 12-month term deposit rate that takes that amount, 5.60% from CommFCU, pays $2,800. Figures are the banks' published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.

Compare all 151 accounts
Compare all 295 term deposits