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Term deposit rates in Australia, August 2026

As of 31 August 2026, the highest 12-month term deposit rate tracked by BankMate was 5.45% p.a. from Police Credit Union Ltd (PALMERSTON TRM DEPOSIT). The highest rate at any term was 5.55% for 2 yr from G&C Mutual Bank. The average 12-month rate across 455 deposits was 4.71% p.a. (median 4.95%); 635 of 2314 deposits at any term paid 5% or more. Longer terms paid less: the average 3 yr rate was 0.08 points below the 6 mo rate, the shape banks price when they expect cuts. During August 2026 BankMate recorded 70 rate rises and 214 cuts across 28 banks.

Highest 12-month rates

455 deposits · as of 31 August 2026
  1. 🏦
    1
    5.45%
    Police Credit Union LtdPALMERSTON TRM DEPOSIT13 mo
    Go to site
  2. 🏦
    2
    5.45%
    Police Credit Union LtdCONTACT TERM DEPOSIT13 mo
    Go to site
  3. 🏦
    3
    5.45%
    Police Credit Union LtdYORKETOWN TERM DEPOSIT13 mo
    Go to site
  1. 4
    🏦
    Police Credit Union Ltd MT GAMBIER TRM DEPOSIT13 mo5.45%
  2. 5
    🏦
    Police Credit Union Ltd MT BARKER TERM DEPOSIT13 mo5.45%
  3. 6
    🏦
    Police Credit Union Ltd TTP TERM DEPOSIT13 mo5.45%
  4. 7
    🏦
    Police Credit Union Ltd MARION TERM DEPOSIT13 mo5.45%
  5. 8
    🏦
    Police Credit Union Ltd ADELAIDE TERM DEPOSIT13 mo5.45%
  6. 9
    🚀
    MOVE Bank Term Deposit11 mo5.40%
  7. 10
    🏦
    Heartland Term Deposit1 yr5.40%
Compare all 2314

Terms from 11 to 13 months count as 12-month deposits. Rates are for new money at the minimum deposit; interest is paid at maturity unless the bank says otherwise. Business, SMSF and wholesale deposits are excluded.

Rates by term

Highest and average at each term
Highest rateAverage rateAverage last month
3.8%4.3%4.8%5.3%5.8%3 mo6 mo9 mo1 yr2 yr3 yr5 yr5.50%4.17%
TermHighestAverageMonth change
3 mo · 2855.25%4.28%+0.02
6 mo · 4055.45%4.42%−0.04
9 mo · 3545.40%4.32%0.00
1 yr · 4555.45%4.71%−0.03
2 yr · 2935.55%4.47%−0.03
3 yr · 1885.40%4.33%−0.04
5 yr · 855.50%4.17%−0.01

Each deposit joins the nearest headline term within 10% of it (11 to 13 months → 12 months); deposits at odd terms such as 18 months count only in the overall figures. “Month change” compares each term's average with the same figure reconstructed for the previous month.

The Big 4

Best 12-month rate at each
  • 🏦
    4.70%at 12 months
    Commonwealth BankBest any term 4.95% · 2 yr
  • 🏢
    4.75%at 12 months
    WestpacBest any term 5.00% · 2 yr
  • 🏛️
    5.18%at 12 months
    ANZ
  • 🏪
    5.15%at 12 months
    NAB

Paid monthly

Highest rates that pay interest monthly
  1. 1
    🏦
    G&C Mutual Bank Term Deposit2 yr5.40%
  2. 2
    🏦
    G&C Mutual Bank Term Deposit30 mo5.40%
  3. 3
    🏦
    Judo Bank Personal Term Deposits4 yr5.40%
  4. 4
    🏦
    Judo Bank Personal Term Deposits5 yr5.40%
  5. 5
    🏦
    Judo Bank Personal Term Deposits7 mo5.35%

For anyone drawing an income from a deposit. Banks usually shade the rate slightly for monthly payment; the figures here are the monthly-paid rate as published.

Rate changes in August

70 rises · 214 cuts · 28 banks

Cuts

  • 🏪
    NAB cut 54 depositsup to −0.20
    • 9 moNAB Term Deposit5.10 → 5.00−0.10
    • 1 yrNAB Term Deposit5.15 → 5.05−0.10
    • 1 yrNAB Term Deposit5.15 → 5.05−0.10
    • 1 yrNAB Term Deposit5.25 → 5.15−0.10
    • 1 yrNAB Term Deposit5.25 → 5.15−0.10
    • 1 yrNAB Term Deposit5.25 → 5.15−0.10
    • 13 moNAB Term Deposit5.20 → 5.00−0.20
    • 13 moNAB Term Deposit5.20 → 5.00−0.20
    • 13 moNAB Term Deposit5.10 → 4.90−0.20
    • 13 moNAB Term Deposit5.10 → 4.90−0.20
    • 14 moNAB Term Deposit5.20 → 5.00−0.20
    • 14 moNAB Term Deposit5.20 → 5.00−0.20
    • and 42 more deposits at NAB
  • 🏦
    Central Murray Bank cut 28 depositsup to −1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 6 moTERM DEPOSIT 6 MONTHS5.00 → 4.00−1.00
    • 1 yr12 MTHS MONTHLY CHQ4.25 → 4.00−0.25
    • 1 yr12 MTHS MONTHLY CHQ4.25 → 4.00−0.25
    • and 16 more deposits at Central Murray Bank
  • 🏦
    Maitland Mutual Limited cut 20 depositsup to −0.20
    • 5 moTerm Deposit5.05 → 4.90−0.15
    • 5 moTerm Deposit5.05 → 4.90−0.15
    • 5 moTerm Deposit5.05 → 4.90−0.15
    • 5 moTerm Deposit5.05 → 4.90−0.15
    • 1 yrTerm Deposit5.15 → 4.95−0.20
    • 1 yrTerm Deposit5.15 → 4.95−0.20
    • 1 yrTerm Deposit5.20 → 5.00−0.20
    • 1 yrTerm Deposit5.20 → 5.00−0.20
    • 1 yrTerm Deposit5.15 → 4.95−0.20
    • 1 yrTerm Deposit5.15 → 4.95−0.20
    • 1 yrTerm Deposit5.15 → 4.95−0.20
    • 1 yrTerm Deposit5.25 → 5.05−0.20
    • and 8 more deposits at Maitland Mutual Limited
  • 💼
    Macquarie Bank Limited cut 20 depositsup to −0.05
    • 6 moMacquarie Term Deposit5.07 → 5.02−0.05
    • 6 moMacquarie Term Deposit5.07 → 5.02−0.05
    • 6 moMacquarie Term Deposit5.10 → 5.05−0.05
    • 6 moMacquarie Term Deposit5.10 → 5.05−0.05
    • 6 moMacquarie Term Deposit5.05 → 5.00−0.05
    • 6 moMacquarie Term Deposit5.05 → 5.00−0.05
    • 9 moMacquarie Term Deposit5.15 → 5.10−0.05
    • 9 moMacquarie Term Deposit5.15 → 5.10−0.05
    • 9 moMacquarie Term Deposit5.09 → 5.04−0.05
    • 9 moMacquarie Term Deposit5.09 → 5.04−0.05
    • 9 moMacquarie Term Deposit5.06 → 5.02−0.04
    • 9 moMacquarie Term Deposit5.06 → 5.02−0.04
    • and 8 more deposits at Macquarie Bank Limited
  • 🏦
    Commonwealth Bank cut 12 depositsup to −1.05
    • 6 moStandard Term Deposit4.45 → 3.40−1.05
    • 6 moStandard Term Deposit4.45 → 3.40−1.05
    • 6 moStandard Term Deposit4.50 → 3.45−1.05
    • 6 moStandard Term Deposit4.50 → 3.45−1.05
    • 6 moStandard Term Deposit4.50 → 3.45−1.05
    • 6 moStandard Term Deposit4.50 → 3.45−1.05
    • 6 moStandard Term Deposit4.50 → 3.50−1.00
    • 6 moStandard Term Deposit4.45 → 3.45−1.00
    • 6 moStandard Term Deposit4.45 → 3.45−1.00
    • 6 moStandard Term Deposit4.50 → 3.50−1.00
    • 6 moStandard Term Deposit4.50 → 3.50−1.00
    • 6 moStandard Term Deposit4.50 → 3.50−1.00
  • 🏦
    QBANK cut 12 depositsup to −0.10
    • 9 moTerm Deposit 9 Month4.65 → 4.55−0.10
    • 9 moTerm Deposit 9 Month4.65 → 4.55−0.10
    • 9 moTerm Deposit 9 Month5.40 → 5.30−0.10
    • 9 moTerm Deposit 9 Month5.20 → 5.10−0.10
    • 9 moTerm Deposit 9 Month5.00 → 4.90−0.10
    • 9 moTerm Deposit 9 Month5.05 → 4.95−0.10
    • 9 moTerm Deposit 9 Month4.85 → 4.75−0.10
    • 9 moTerm Deposit 9 Month5.25 → 5.15−0.10
    • 9 moTerm Deposit 9 Month4.85 → 4.75−0.10
    • 9 moTerm Deposit 9 Month4.80 → 4.70−0.10
    • 9 moTerm Deposit 9 Month5.05 → 4.95−0.10
    • 9 moTerm Deposit 9 Month5.25 → 5.15−0.10
  • 🏦
    RSL Money cut 10 depositsup to −0.50
    • 6 moRSL Member Investment Plus4.50 → 4.00−0.50
    • 6 moRSL Member Investment Plus4.50 → 4.00−0.50
    • 7 moRSL Member Investment Plus5.00 → 4.70−0.30
    • 7 moRSL Member Investment Plus5.00 → 4.70−0.30
    • 10 moRSL Member Investment Plus4.10 → 4.00−0.10
    • 10 moRSL Member Investment Plus4.10 → 4.00−0.10
    • 11 moRSL Member Investment Plus4.10 → 4.00−0.10
    • 11 moRSL Member Investment Plus4.10 → 4.00−0.10
    • 1 yrRSL Member Investment Plus4.10 → 3.60−0.50
    • 1 yrRSL Member Investment Plus4.10 → 3.60−0.50
  • 🏦
    Great Southern Bank cut 8 depositsup to −0.20
    • 3 moStandard Rate Term Deposit 2-12 months4.90 → 4.80−0.10
    • 3 moStandard Rate Term Deposit 1-12 months5.00 → 4.90−0.10
    • 7 moStandard Rate Term Deposit 1-12 months5.20 → 5.00−0.20
    • 7 moStandard Rate Term Deposit 2-12 months5.10 → 4.90−0.20
    • 1 yrStandard Rate Term Deposit 1-12 months5.25 → 5.10−0.15
    • 1 yrStandard Rate Term Deposit 2-12 months5.15 → 5.00−0.15
    • 5 yrStandard Rate Term Deposit 13-60 months (M)5.15 → 5.05−0.10
    • 5 yrStandard Rate Term Deposit 13-60 months (A)5.25 → 5.15−0.10
  • 🏦
    Australian Military Bank cut 6 depositsup to −0.50
    • 6 moIncome Plus4.40 → 3.90−0.50
    • 6 moInvestment Plus4.50 → 4.00−0.50
    • 7 moIncome Plus4.50 → 4.30−0.20
    • 7 moInvestment Plus4.60 → 4.40−0.20
    • 1 yrIncome Plus3.70 → 3.50−0.20
    • 1 yrInvestment Plus3.80 → 3.60−0.20
  • 🏦
    MyState Bank cut 6 depositsup to −0.15
    • 6 moRegular Term Deposit5.00 → 4.85−0.15
    • 6 moOnline Term Deposit5.00 → 4.85−0.15
    • 9 moRegular Term Deposit5.10 → 4.95−0.15
    • 9 moOnline Term Deposit5.10 → 4.95−0.15
    • 1 yrRegular Term Deposit5.15 → 5.05−0.10
    • 1 yrOnline Term Deposit5.15 → 5.05−0.10
  • 🏦
    Horizon Bank cut 5 depositsup to −0.15
    • 3 moTerm Deposit4.50 → 4.40−0.10
    • 4 moTerm Deposit4.70 → 4.60−0.10
    • 6 moTerm Deposit4.90 → 4.80−0.10
    • 9 moTerm Deposit5.00 → 4.90−0.10
    • 1 yrTerm Deposit5.15 → 5.00−0.15
  • 🏦
    gmcu cut 4 depositsup to −0.50
    • 1 yrFixed Term Deposit - 12 months5.40 → 4.90−0.50
    • 1 yrMonthly Income Term Deposit - 12 Months5.30 → 4.80−0.50
    • 2 yrMonthly Income Term Deposit - 24 months4.90 → 4.55−0.35
    • 2 yrFixed Term Deposit - 24 months5.00 → 4.65−0.35
  • 🏦
    Bank First cut 4 depositsup to −0.40
    • 2 yr2 Year Term Deposit5.15 → 4.80−0.35
    • 37 mo3 Year Term Deposit5.15 → 4.75−0.40
    • 49 mo4 Year Term Deposit5.10 → 4.70−0.40
    • 61 mo5 Year Term Deposit5.10 → 4.70−0.40
  • 🚀
    MOVE Bank cut 4 depositsup to −0.10
    • 9 moTerm Deposit5.45 → 5.35−0.10
    • 11 moTerm Deposit5.50 → 5.40−0.10
    • 1 yrTerm Deposit5.45 → 5.35−0.10
    • 1 yrTerm Deposit5.30 → 5.25−0.05
  • 🏦
    Heartland cut 4 depositsup to −0.05
    • 6 moTerm Deposit5.35 → 5.30−0.05
    • 9 moTerm Deposit5.40 → 5.35−0.05
    • 1 yrTerm Deposit5.45 → 5.40−0.05
    • 1 yrTerm Deposit5.30 → 5.25−0.05
  • 🏛️
    ANZ cut 4 depositsup to −0.05
    • 1 yrANZ Advance Notice Term Deposit5.23 → 5.18−0.05
    • 1 yrANZ Advance Notice Term Deposit5.23 → 5.18−0.05
    • 1 yrANZ Advance Notice Term Deposit5.18 → 5.13−0.05
    • 1 yrANZ Advance Notice Term Deposit5.20 → 5.15−0.05
  • 🏦
    Bank Australia cut 4 depositsup to −0.05
    • 1 yrMonthly Term Deposit 12 months5.20 → 5.15−0.05
    • 1 yrMonthly Term Deposit 12 months5.20 → 5.15−0.05
    • 1 yrTerm Deposit 12 months5.30 → 5.25−0.05
    • 1 yrTerm Deposit 12 months5.30 → 5.25−0.05
  • 🏦
    Credit Union SA cut 3 depositsup to −2.45
    • 6 moTerm Deposit5.30 → 3.00−2.30
    • 9 moTerm Deposit5.45 → 3.00−2.45
    • 1 yrTerm Deposit5.35 → 5.25−0.10
  • 🏦
    BCU Bank cut 2 depositsup to −0.45
    • 5 mo5 Month Term Deposit - Mthly5.15 → 4.70−0.45
    • 5 mo5 Month Term Deposit5.25 → 4.80−0.45
  • 🏦
    Southern Cross Credit Union cut 2 depositsup to −0.30
    • 11 moTERM DEPOSIT5.40 → 5.10−0.30
    • 11 moTERM DEPOSIT5.40 → 5.10−0.30
  • and 2 more banks with smaller moves

Rises

  • 🏦
    QBANK raised 36 depositsup to +0.10
    • 3 moTerm Deposit 3 Month4.10 → 4.15+0.05
    • 3 moTerm Deposit 3 Month4.85 → 4.90+0.05
    • 3 moTerm Deposit 3 Month4.10 → 4.15+0.05
    • 3 moTerm Deposit 3 Month4.50 → 4.55+0.05
    • 3 moTerm Deposit 3 Month4.30 → 4.35+0.05
    • 3 moTerm Deposit 3 Month4.25 → 4.30+0.05
    • 3 moTerm Deposit 3 Month4.70 → 4.75+0.05
    • 3 moTerm Deposit 3 Month4.45 → 4.50+0.05
    • 3 moTerm Deposit 3 Month4.50 → 4.55+0.05
    • 3 moTerm Deposit 3 Month4.65 → 4.70+0.05
    • 3 moTerm Deposit 3 Month4.70 → 4.75+0.05
    • 3 moTerm Deposit 3 Month4.30 → 4.35+0.05
    • and 24 more deposits at QBANK
  • 🏦
    Geelong Bank raised 12 depositsup to +0.70
    • 6 moSix Month term deposit4.50 → 5.20+0.70
    • 6 moRegular Income Plus for 6 months4.40 → 5.10+0.70
    • 6 moSix Month term deposit4.60 → 5.20+0.60
    • 6 moRegular Income Plus for 6 months4.50 → 5.10+0.60
    • 6 moSix Month term deposit4.70 → 5.20+0.50
    • 6 moRegular Income Plus for 6 months4.60 → 5.10+0.50
    • 1 yrTwelve Month Term Deposit4.80 → 5.15+0.35
    • 1 yrRegular Income Plus for 12 months4.70 → 5.05+0.35
    • 1 yrRegular Income Plus for 12 months4.80 → 5.05+0.25
    • 1 yrTwelve Month Term Deposit4.90 → 5.15+0.25
    • 1 yrTwelve Month Term Deposit5.00 → 5.15+0.15
    • 1 yrRegular Income Plus for 12 months4.90 → 5.05+0.15
  • 🏦
    Bank First raised 4 depositsup to +0.20
    • 3 mo90 Day Term Deposit4.80 → 4.90+0.10
    • 4 mo120 Day Term Deposit4.90 → 5.05+0.15
    • 6 mo180 Day Term Deposit5.05 → 5.25+0.20
    • 9 mo270 Day Term Deposit5.20 → 5.40+0.20
  • 🏠
    ME Bank - ME Go raised 4 depositsup to +0.20
    • 3 moME Go Term Deposit4.80 → 5.00+0.20
    • 6 moME Go Term Deposit5.15 → 5.20+0.05
    • 9 moME Go Term Deposit5.20 → 5.30+0.10
    • 1 yrME Go Term Deposit5.35 → 5.37+0.02
  • 🏦
    Southern Cross Credit Union raised 3 depositsup to +0.40
    • 3 moTERM DEPOSIT4.60 → 5.00+0.40
    • 9 moTERM DEPOSIT5.10 → 5.30+0.20
    • 9 moTERM DEPOSIT5.10 → 5.30+0.20
  • 🚀
    MOVE Bank raised 3 depositsup to +0.15
    • 3 moTerm Deposit5.00 → 5.05+0.05
    • 4 moTerm Deposit5.05 → 5.15+0.10
    • 10 moTerm Deposit5.20 → 5.35+0.15
  • 🏦
    The Mac raised 2 depositsup to +0.30
    • 6 moTERM SAVINGS I44.50 → 4.80+0.30
    • 9 moTERM SAVINGS I44.60 → 4.80+0.20
  • 💳
    Newcastle Permanent Building Society raised 2 depositsup to +0.10
    • 2 yrTerm Deposit4.15 → 4.25+0.10
    • 2 yrTerm Deposit4.15 → 4.25+0.10
  • 🏦
    Bank Australia raised 2 depositsup to +0.05
    • 3 moTerm Deposit 3 months5.00 → 5.05+0.05
    • 3 moTerm Deposit 3 months5.00 → 5.05+0.05
  • 🏦
    IMB Bank raised 1 deposit+0.40
    • 3 moTerm Deposit4.60 → 5.00+0.40
  • 🏦
    Cairns bank raised 1 deposit+0.10
    • 5 moTerm deposits 24mths under $500,0003.65 → 3.75+0.10

One row per bank and direction; open a row for the deposits it moved. A bank re-pricing its whole curve is one story, not thirty.

How this report is produced

Data
Each bank's Consumer Data Right (open banking) product feed, re-read nightly. A rate change is recorded when a deposit's published rate differs from the last value stored.
Figures
Rates are each deposit's last recorded value on or before 31 August 2026; deposits with no record by then are not counted. Changes compare the last rate before the month with the last rate within it. 382 history entries fall in this month. Tracking began in April 2026.
Scope
Personal term deposits open to Australian residents, as listed on BankMate, across 79 banks. Not financial advice. Methodology · Today's full ranking