Term deposit report
Term deposit rates in Australia, month by month
Each report is a dated snapshot generated from the same open-banking data that powers the comparison: the highest 12-month rate, the highest and average rate at every term from three months to five years, the Big 4, and each rate rise and cut recorded in the month, bank by bank. Nothing is written by hand, so a figure quoted from a report can be traced to the bank's own published rate on that date.
As of 17 September 2026, the highest 12-month term deposit rate tracked by BankMate is 5.50% p.a. from Bank Australia, and the highest at any term is 5.55% for 2 yr from G&C Mutual Bank. The average 12-month rate across 590 deposits is 4.55% p.a.