Term deposit reportAs of 31 May 2026May 2026
The top 1-year rate fell to 5.50%. The average held at 4.61%.
RBA cash rate 4.35% · raised on 6 May · the average 1-year deposit pays 0.26 above itHighest rates
As of 31 May 2026- 3=Judo Bank Personal Term Deposits11 months11 months5.45%Go to site
- 3=RACQ Bank Term Deposit5.45%Go to site
- 6=CommFCU 12 Month Term Deposit SpecialFrom $10,000From $10,0005.40%Go to site
- 6=GMCU Monthly Income Term Deposit - 12 Months5.40%Go to site
- 6=Southern Cross Credit Union TERM DEPOSIT11 months · From $5,00011 months · From $5,0005.40%Go to site
- 9=BNK Stow It Term Deposit AccountFrom $5,000From $5,0005.35%Go to site
- 9=Credit Union SA Term Deposit5.35%Go to site
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 31 May 2026TermDepositsHighestAverageMonth
- 3 months1175.10%BNK3.98%+0.04
- 6 months1175.35%MoveBank4.37%+0.05
- 9 months1075.55%Credit Union SA4.20%+0.03
- 1 year2665.50%MoveBank · 11 months4.61%+0.03
- 2 years2185.60%GMCU4.56%+0.05
- 3 years1765.45%Heartland Bank4.33%+0.04
- 5 years925.65%Rabobank4.28%+0.01
The month's move and the dashed line are on the deposits at each term both on 1 May and now, so newly tracked deposits never read as a move.
Since tracking began
1-year deposits, month ends, April to May- On 31 May, across 266 1-year deposits
- Highest
- 5.50%
- Average
- 4.61%
- Median
- 4.95%
- Paying 5% or more
- 118 of 266
- RBA cash rate
- 4.35%
The average line moves only when rates do: each month's step is measured on the 1-year deposits tracked at both its start and its end, so newly tracked deposits never move it.
Rate changes in May
241 rises · 22 cuts · 32 banksProductWhenRateChange
- CommFCU 9 products6 months shown · 45 deposits, 3 months to 3 years4.65 → 4.90 · 15 May15 May4.65 → 4.90+0.25
- NAB NAB Term Deposit1 year shown · 37 deposits, 1 year to 2 years, +0.10 to +0.205.10 → 5.25 · 6 May – 26 May6 May – 26 May5.10 → 5.25+0.15
- QBANK 5 products1 year shown · 33 deposits, 3 months to 2 years, +0.15 to +0.204.35 → 4.50 · 12 May12 May4.35 → 4.50+0.15
- Defence Bank 13 products1 year shown · 13 deposits, 1 month to 2 years, +0.25 to +0.554.70 → 4.95 · 20 May20 May4.70 → 4.95+0.25
- Hume Bank 11 products1 year shown · 11 deposits, 3 months to 3 years, +0.05 to +0.155.10 → 5.20 · 8 May8 May5.10 → 5.20+0.10
- bankWAW 9 products11 months shown · 9 deposits, 11 months to 2 years, +0.25 to +0.601.95 → 2.20 · 20 May20 May1.95 → 2.20+0.25
- Alex.Bank Term Deposit - Direct1 year shown · 9 deposits, 1 year to 5 years, −0.10 to −0.555.35 → 5.25 · 15 May15 May5.35 → 5.25−0.10
- Newcastle Permanent Term Deposit1 year shown · 9 deposits, 1 year to 5 years, +0.15 to +0.355.05 → 5.25 · 25 May25 May5.05 → 5.25+0.20
- Greater Bank 3 products1 year shown · 8 deposits, 1 year to 35 months, +0.20 to +0.255.05 → 5.25 · 25 May25 May5.05 → 5.25+0.20
- BNK Stow It Term Deposit Account1 year shown · 8 deposits, 5 months to 1 year, −0.05 to −0.255.40 → 5.35 · 25 May25 May5.40 → 5.35−0.05
- MoveBank Term Deposit9 months shown · 8 deposits, 3 months to 2 years, +0.05 to +0.255.20 → 5.45 · 22 May – 26 May22 May – 26 May5.20 → 5.45+0.25
- Commonwealth Bank Standard Term Deposit1 year · 8 deposits4.60 → 4.65 · 20 May20 May4.60 → 4.65+0.05
- ANZ ANZ Advance Notice Term Deposit1 year shown · 7 deposits, 1 year to 2 years, +0.05 to +0.245.18 → 5.23 · 28 May28 May5.18 → 5.23+0.05
- Suncorp Term Deposit6 months shown · 6 deposits, 4 months to 6 months, +0.10 to +0.155.00 → 5.15 · 29 May29 May5.00 → 5.15+0.15
- Auswide Bank Ltd MATURITY TERM DEPOSIT9 months shown · 6 deposits, 6 months to 9 months, +0.05 to +0.105.00 → 5.10 · 8 May8 May5.00 → 5.10+0.10
- Summerland Bank Fixed Term Deposit1 year shown · 5 deposits, 7 months to 1 year, +0.15 to +0.205.10 → 5.25 · 14 May14 May5.10 → 5.25+0.15
- Bankwest Bankwest Term Deposit2 years shown · 4 deposits, 2 years to 5 years3.96 → 4.94 · 16 May16 May3.96 → 4.94+0.98
- Geelong Bank 4 products1 year shown · 4 deposits, 3 months to 1 year, +0.05 to +0.105.10 → 5.20 · 8 May8 May5.10 → 5.20+0.10
- Bank of Us FIXED TERM INVESTMENT1 year · 3 deposits4.90 → 5.15 · 14 May14 May4.90 → 5.15+0.25
- Cairns bank Term deposits 12mths over $500,000 mthly interest23 months shown · 3 deposits, 23 months to 3 years, +0.10 to +0.204.10 → 4.30 · 26 May26 May4.10 → 4.30+0.20
- MyState Regular Term Deposit1 year shown · 3 deposits, 6 months to 1 year, +0.05 to +0.205.10 → 5.30 · 7 May7 May5.10 → 5.30+0.20
- Credit Union SA Term Deposit1 year shown · 3 deposits, 6 months to 1 year, +0.10 to +0.155.20 → 5.35 · 9 May9 May5.20 → 5.35+0.15
- Heartland Bank Term Deposit1 year shown · 3 deposits, 9 months to 1 year, −0.05 to −0.105.40 → 5.30 · 15 May15 May5.40 → 5.30−0.10
- ORANGE CREDIT UNION LTD 2 products1 year · 2 deposits, +0.20 to +0.305.05 → 5.35 · 11 May – 16 May11 May – 16 May5.05 → 5.35+0.30
- The Capricornian Term Deposit1 year shown · 2 deposits, 1 year to 2 years, +0.10 to +0.255.00 → 5.10 · 12 May12 May5.00 → 5.10+0.10
- Heartland Bank Term Deposit6 months shown · 2 deposits, 3 months to 6 months, +0.10 to +0.155.15 → 5.30 · 15 May15 May5.15 → 5.30+0.15
- Queensland Country Bank 2 products1 year · 2 deposits5.05 → 5.15 · 15 May15 May5.05 → 5.15+0.10
- Bank of Sydney Term Deposit1 year · 2 deposits4.90 → 5.00 · 9 May9 May4.90 → 5.00+0.10
- Heritage Bank Term Deposit1 year · 2 deposits5.25 → 5.35 · 29 May29 May5.25 → 5.35+0.10
- Bank Australia Term Deposit 3 months3 months · interest at maturity4.80 → 5.00 · 20 May20 May4.80 → 5.00+0.20
- Bank Australia Monthly Term Deposit 12 months1 year · interest paid monthly5.35 → 5.25 · 12 May12 May5.35 → 5.25−0.10
- Bank First 1 Year Regular Income Term Deposit1 year · interest paid monthly5.20 → 5.30 · 2 May2 May5.20 → 5.30+0.10
- Judo Bank Personal Term Deposits1 year · interest paid monthly5.35 → 5.25 · 9 May9 May5.35 → 5.25−0.10
- BNK Stow It Term Deposit Account2 months · interest at maturity4.20 → 4.25 · 25 May25 May4.20 → 4.25+0.05
- IMB Bank Term Deposit1 year · interest at maturity5.20 → 5.25 · 19 May19 May5.20 → 5.25+0.05
One row per bank and direction; the rate shown is its move nearest 1 year. Not counted as changes: 251 deposits with no reading before 1 May.
- 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 65 banks. Factual comparison, not financial advice. Methodology · Today's full ranking
As of 31 May 2026, the highest 12-month term deposit rate tracked by BankMate was 5.50% p.a. from GMCU (Fixed Term Deposit - 12 months). The highest rate at any term was 5.65% for 5 years from Rabobank. The average 12-month rate across 266 deposits was 4.61% p.a. (median 4.95%); 447 of 1618 deposits at any term paid 5% or more. The average 3-year rate sat level with the 6-month rate. During May 2026 BankMate recorded 241 rate rises and 22 cuts across 32 banks.