What are Term Deposits?

Term Deposits are a savings product from a bank, credit union or building society. Your money is invested for a fixed term (ranging from 1 month to 10 years) and you receive a fixed rate of interest at maturity (end of term).


  • Certainty of a fixed interest rate
  • A set return
  • A competitive market with many choices of investment rates and term deposit suppliers
  • Relatively low investment risk (investments may be eligible for the $250K Australian Government guarantee)


  • Funds can’t be withdrawn during fixed term without a penalty
  • Early withdrawals are at the discretion of the ADI and are usually subject to a notice period