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Term deposit reportAs of 30 April 2026April 2026

The top 1-year rate is 5.55% across 222 deposits.

RBA cash rate 4.10% · held since 18 March · the average 1-year deposit pays 0.47 above it

Highest rates

As of 30 April 2026
  1. 1st
    5.55%Term DepositHeartland BankInterest at maturityGo to siteFrom $5,000
  2. 2nd=Fixed Term Deposit - 12 monthsGMCU5.50%
  3. 2nd=Term DepositMoveBank · 11 months5.50%
  1. 4RACQ Bank Term Deposit5.45%
  2. 5=BNK Stow It Term Deposit AccountFrom $5,0005.40%
  3. 5=CommFCU 12 Month Term Deposit SpecialFrom $10,0005.40%
  4. 5=GMCU Monthly Income Term Deposit - 12 Months5.40%
  5. 5=Southern Cross Credit Union TERM DEPOSIT11 months · From $5,0005.40%
  6. 9=Alex.Bank Term Deposit - DirectFrom $5,0005.35%
  7. 9=Bank Australia Monthly Term Deposit 12 months5.35%
Compare all 1,367 deposits

One line per product, its highest rate at that term. Terms within a tenth count as the term (11 to 13 months as 1 year). Rates for new money, as each bank publishes them.

Rates by term

As of 30 April 2026
TermHighestAverageMonth
  1. 3 months5.10%BNK3.93%—
  2. 6 months5.55%BNK4.28%—
  3. 9 months5.60%BNK4.19%—
  4. 1 year5.55%Heartland Bank4.57%—
  5. 2 years5.60%GMCU4.51%—
  6. 3 years5.45%Heartland Bank4.28%—
  7. 5 years5.65%Rabobank4.44%—

The month's move and the dashed line are on the deposits at each term both on 1 April and now, so newly tracked deposits never read as a move.

Rate changes in April

Since 1 April

Tracking began in April, so there is nothing to compare yet.

Data
Each bank's Consumer Data Right (open banking) product feed, read nightly. A reading is recorded when a deposit's published rate differs from the last one stored. Tracking began in April 2026.
Like for like
Averages, moves and changes compare deposits tracked on both dates, at the same term. A row whose term changed is a reshaped deposit, never a bank's move.
Scope
Personal term deposits an individual can open directly, as listed on BankMate, across 62 banks. Factual comparison, not financial advice. Methodology · Today's full ranking

As of 30 April 2026, the highest 12-month term deposit rate tracked by BankMate was 5.55% p.a. from Heartland Bank (Term Deposit). The highest rate at any term was 5.65% for 5 years from Rabobank. The average 12-month rate across 222 deposits was 4.57% p.a. (median 4.90%); 343 of 1367 deposits at any term paid 5% or more. The average 3-year rate sat level with the 6-month rate. No rate changes were recorded during April 2026.