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Term deposit reportAs of 30 September 2026September 2026

The top 1-year rate rose to 5.50%. The average held at 4.42%.

RBA cash rate 4.60% · raised on 30 September · the average 1-year deposit pays 0.18 below it

Highest rates

As of 30 September 2026
  1. 1st=
    5.50%Term Deposit 12 monthsBank AustraliaInterest at maturityGo to site
  2. 1st=1 Year Term DepositBank First5.50%
  3. 1st=Term DepositHeartland Bank · From $5,0005.50%
  1. 4Judo Bank Personal Term Deposits5.45%
  2. 5=Bank Australia Monthly Term Deposit 12 months5.40%
  3. 5=Bank First 1 Year Regular Income Term DepositFrom $5,0005.40%
  4. 5=CommFCU 12 Month Term Deposit SpecialFrom $10,0005.40%
  5. 8ME Bank ME Go Term DepositFrom $5,0005.37%
  6. 9=Auswide Bank Ltd MATURITY TERM DEPOSIT11 months · From $5,0005.35%
  7. 9=ING Personal Term Deposits11 months · From $10,0005.35%
Compare all 2,251 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 September 2026
TermHighestAverageMonth
  1. 3 months5.25%RACQ Bank4.01%+0.01
  2. 6 months5.45%Heartland Bank4.25%−0.02
  3. 9 months5.40%Bank First4.20%+0.01
  4. 1 year5.50%Bank Australia4.42%+0.03
  5. 2 years5.45%Judo Bank4.30%+0.06
  6. 3 years5.45%Judo Bank4.14%+0.05
  7. 5 years5.50%Judo Bank3.89%+0.06

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

Since tracking began

1-year deposits, month ends, April to September
On 30 September, across 358 1-year deposits
Highest
5.50%
Average
4.42%
Median
4.85%
Paying 5% or more
152 of 358
RBA cash rate
4.60%

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 September

292 rises · 37 cuts · 29 banks
  1. Rabobank Online Term Deposit1 year shown · 110 deposits, 3 months to 5 years, +0.10 to +0.304.85 → 5.05 · 16 Sep+0.20
  2. Commonwealth Bank Standard Term Deposit1 year shown · 69 deposits, 7 months to 2 years, +0.10 to +0.204.65 → 4.80 · 18 Sep+0.15
  3. ANZ ANZ Advance Notice Term Deposit1 year shown · 19 deposits, 7 months to 1 year, +0.05 to +1.455.18 → 5.23 · 4 Sep – 24 Sep+0.05
  4. Heritage Bank Term Deposit11 months shown · 14 deposits, 3 months to 5 years, +0.10 to +0.504.40 → 4.50 · 16 Sep – 23 Sep+0.10
  5. Heartland Bank Term Deposit1 year shown · 12 deposits, 6 months to 5 years, +0.05 to +0.205.25 → 5.35 · 23 Sep – 30 Sep+0.10
  6. MoveBank Term Deposit11 months shown · 11 deposits, 3 months to 2 years, −0.05 to −0.105.40 → 5.30 · 9 Sep−0.10
  7. People First Bank Term Deposit7 months shown · 9 deposits, 7 months to 5 years, +0.10 to +0.505.35 → 5.45 · 23 Sep+0.10
  8. Alex.Bank Term Deposit - Direct2 years shown · 8 deposits, 2 years to 5 years4.80 → 5.00 · 7 Sep+0.20
  9. NAB NAB Term Deposit1 year shown · 7 deposits, 7 months to 1 year, +0.05 to +0.155.05 → 5.20 · 22 Sep+0.15
  10. ANZ ANZ Advance Notice Term Deposit6 months shown · 6 deposits, 5 months to 6 months, −0.10 to −1.605.10 → 3.50 · 4 Sep−1.60
  11. Bank First 6 products1 year shown · 6 deposits, 3 months to 2 years, +0.05 to +0.205.20 → 5.40 · 18 Sep+0.20
  12. Judo Bank Personal Term Deposits1 year shown · 6 deposits, 4 months to 3 years, +0.05 to +0.105.25 → 5.35 · 2 Sep – 17 Sep+0.10
  13. Credit Union SA Term Deposit1 year shown · 4 deposits, 4 months to 1 year, −0.15 to −0.305.25 → 5.00 · 4 Sep – 17 Sep−0.25
  14. Bank Australia 4 products1 year shown · 4 deposits, 3 months to 1 year, +0.05 to +0.255.15 → 5.40 · 2 Sep – 23 Sep+0.25
  15. MyState Regular Term Deposit1 year shown · 4 deposits, 3 months to 1 year, +0.15 to +0.205.05 → 5.25 · 15 Sep+0.20

One row per bank and direction; the rate shown is its move nearest 1 year. Not counted as changes: 483 deposits with no reading before 1 September.

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 71 banks. Factual comparison, not financial advice. Methodology · Today's full ranking

As of 30 September 2026, the highest 12-month term deposit rate tracked by BankMate was 5.50% p.a. from Bank Australia (Term Deposit 12 months). The average 12-month rate across 358 deposits was 4.42% p.a. (median 4.85%); 538 of 2251 deposits at any term paid 5% or more. Longer terms paid less: the average 3-year rate was 0.11 points below the 6-month rate. During September 2026 BankMate recorded 292 rate rises and 37 cuts across 29 banks.