Savings · vs term deposit
Macquarie Savings Account vs Macquarie's term deposit
MacquarieMacquarie Savings AccountSavings account · nothing to do each month
vs
MacquarieMacquarie Digital Term DepositTerm deposit · 3 months to 1 year
Compare on
Interest over 1 year on $50,000
$2,625
5.25% a year
$2,675
5.35% a year · paid at maturity
Over 1 year on $50,000, Macquarie Savings Account pays $2,625; Macquarie's 12-month term deposit pays $2,675.
Worked out on $50,000 until you pick a balance
MacquarieMacquarie Savings Account
MacquarieTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,625
nothing to do each month
$2,675
paid at maturity
+$50 · More interest over the term
Rate over the term
a year, on $50,000
5.25%
5.35%
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
$25,000
Who can open it
Anyone 12 or over
Anyone
How they differ
- A savings rate can change at any time. Macquarie Savings Account'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 in both at Macquarie shares that one $250,000.
Macquarie Digital Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
9 monthsPaid at maturity5.25%$1,969
1 yearPaid at maturity5.35%$2,675
2 yearsNot offered——
As of 26 October 2026, over 1 year on $50,000, Macquarie Savings Account pays $2,625 with nothing to do each month; Macquarie's 12-month term deposit pays $2,675 at 5.35%. Figures are the bank's 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.