*** BREAKING NEWS ***

Less than a week after rolling out a $17.6 billion stimulus package in a bid to boost the worsening economy, the Morrison Government is considering rolling out a second round of government spending.

Reportedly, Prime Minister Scott Morrison is currently in meetings with Treasurer Josh Frydenberg and Finance Minister Mathias Cormann to finalise the details of the package which could be rolled out within days.

The development comes as the Reserve Bank today announced it would buy government bonds, a form of quantitative easing, in response to the COVID-19 pandemic.

In a sign there could be a second rate cut in March, RBA Governor Philip Lowe said the central bank would make another announcement later this week.

"The Bank will announce further policy measures to support the Australian economy on Thursday," he said.

The US Federal Reserve and the Reserve Bank of New Zealand slashed their interest rates to close to zero overnight. 

More to come...

The table below displays some of the highest-rate six-month term deposits on the market.

Update resultsUpdate
BankTerm DepositInterest Rate Interest Frequency Term Automatic Rollover Maturity Alert Early Withdrawal Available Minimum Deposit Maximum Deposit Notice Period to Withdraw Online Application Joint Application TagsFeaturesLinkCompare
5.25% p.a.
Annually, At Maturity
6 months
$5,000
$5,000,000
7 days
Featured
  • Interest calculated daily and paid at end of term
  • Monthly interest available for terms over 12 months
  • For deposit amounts $5,000 - $2,000,000
5.20% p.a.
At Maturity, Annually
6 months
$5,000
$1,000,000
Featured
  • Guaranteed rate of return
  • Manage your term deposit online
  • Choose your own term - Options range from one month to five years
5.30% p.a.
At Maturity, Monthly
6 months
$25,000
$1,000,000
31 days
5.25% p.a.
Annually, At Maturity
6 months
$1,000
$500,001
31 days
4.80% p.a.
At Maturity
6 months
$1,000
$1,000,000
8 days
5.25% p.a.
At Maturity
6 months
$1,000
$1,000,000
31 days
  • Deposits are protected up to a limit of $250,000 for each account
  • Added loyalty bonus of 0.10%
5.05% p.a.
At Maturity, Annually
6 months
$25,000
$10,000,000
31 days
5.00% p.a.
At Maturity
6 months
$100,000
$200,000
5.00% p.a.
At Maturity
6 months
$500
$1,000,000
31 days
5.10% p.a.
Annually, Semi-Annually, At Maturity, Monthly
6 months
$5,000
$99,999,999
5.00% p.a.
At Maturity, Annually
6 months
$5,000
$24,999
31 days
5.00% p.a.
Annually, At Maturity
6 months
$1,000
$2,000,000
31 days
More term deposits
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.





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