Home News Term deposits edge over 4% after cash rate hike

Term deposits edge over 4% after cash rate hike

Commonwealth Bank, AMP Bank and BOQ increased term deposit interest rates by up to 170 basis points.

First published on 13 May 2022

Term deposits edge over 4% after cash rate hike

Following the RBA increasing the cash rate to 0.35% last week, interest rates are already starting to climb.

Big players have started to increase their term deposit interest rates by up to 1.70 percentage points over the past week, which could be good news for savers looking to stash away their money.

Commonwealth Bank raises term deposit rates by up to 170 basis points

CommBank increased its term deposit interest rates this week.

18 months, payment annually: 55 basis point increase to 0.80% p.a.
36 to 47 months, payment annually: 120 basis point increase to 1.45% p.a.
48 to 59 months, payment annually: 150 basis point increase to 1.75% p.a.
60 months, payment annually: 170 basis point increase to 1.95% p.a.

AMP Bank increases term deposits spill over 4.00% p.a.

AMP Bank also increased its term deposit interest rates by up to 40 basis points.

12 months, payment end of term: 40 basis point increase to 2.85% p.a.
12 months, payment end of term: 40 basis point increase to 2.90% p.a.
4 years, payment annually: 30 basis point increase to 4.00% p.a.
5 years, payment annually: 20 basis point increase to 4.15% p.a.

BOQ hikes term deposits by up to 100 basis points

BOQ also increased its term deposit rates this week, with interest rates spilling over 2.00% p.a.

Notably, the bank also decreased some of its longer term term deposits by up to 135 basis points.

12 to 24 months, payment end of term: 75 basis point hike to 1.75% p.a.
24 to 36 months, payment annually: 85 basis point hike to 2.25% p.a.
36 to 48 months, payment annually: 100 basis point hike to 2.50% p.a.
48 to 60 months, payment monthly: 100 basis point hike to 2.40% p.a.

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Want to earn a fixed interest rate on your cash? The table below features term deposits with some of the highest interest rates on the market for a 12-month term.

Deposit amount

Compare

Provider	Interest rate	Interest frequency	Term	Automatic Rollover	Maturity Alert	Early Withdrawal Available	Minimum Deposit	Annual Fees	Joint Application	Online Application	as ofMay 1, 2025

	4.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	25000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.30^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Personal Term Deposits - 12 months
Personal Term Deposits - 12 months More details
	4.05^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	25000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($25,000+) - 12 months
Term Deposit ($25,000+) - 12 months More details
	4.45^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits - 12 months
Term Deposits - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($5,000-$25,000) - 12 months
Term Deposit ($5,000-$25,000) - 12 months More details
	4.05^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	10000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit (online) - 12 months
Term Deposit (online) - 12 months More details
	4.15^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.30^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000	[Amount: , Frequency: ]	$product[$field["value"]]	$product[$field["value"]]	More details
	Farm Management Deposit - 12 months
Farm Management Deposit - 12 months More details
	4.25^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	250000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($250000-$500000) - 12 months
Term Deposit ($250000-$500000) - 12 months More details
	4.50^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits ($5,000-$10,000) - 12 months
Term Deposits ($5,000-$10,000) - 12 months More details
	4.50^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	250000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($250k+) - 12 months
Term Deposit ($250k+) - 12 months More details
	4.45^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Investment Plus - 12 months
Investment Plus - 12 months More details
	3.80^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Bankwest Term Deposit - 12 months
Bankwest Term Deposit - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	500		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	3.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits - 12 months
Term Deposits - 12 months More details
	4.45^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits - 12 months
Term Deposits - 12 months More details
	4.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit (>$5,000) - 12 months
Term Deposit (>$5,000) - 12 months More details
	4.25^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Regular Term Deposit Account - 12 months
Regular Term Deposit Account - 12 months More details
	4.25^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Online Term Deposit - 12 months
Online Term Deposit - 12 months More details
	4.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	2.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	ME Bank Term Deposit - 12 months
ME Bank Term Deposit - 12 months More details
	3.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	100000		$product[$field["value"]]	$product[$field["value"]]	More details
	Macquarie Bank Term Deposit (>$1,000,000) - 12 months
Macquarie Bank Term Deposit (>$1,000,000) - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit (>$5,000) - 12 months
Term Deposit (>$5,000) - 12 months More details
	4.30^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($5000-$1000000) - 12 months
Term Deposit ($5000-$1000000) - 12 months More details
	4.65^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Fixed Term Deposit - 12 months
Fixed Term Deposit - 12 months More details
	4.20^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	50000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($50000-$5000000) - 12 months
Term Deposit ($50000-$5000000) - 12 months More details
	4.30^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits ($5,000 - $500,000) - 12 months
Term Deposits ($5,000 - $500,000) - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	3.60^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Bendigo Term Deposit (>$5,000) - 12 months
Bendigo Term Deposit (>$5,000) - 12 months More details
	4.10^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	3.90^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	10000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($10k+) - 12 months
Term Deposit ($10k+) - 12 months More details
	3.85^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	100000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($100,000-$999,999) - 12 months
Term Deposit ($100,000-$999,999) - 12 months More details
	3.90^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details

Term Deposit - 6 months

Product Features

$0 monthly account fee
Choose your own term with options from one month to five years.
Guaranteed rate of return

Minimum deposit$5,000

4.60%Interest rate p.a.

6Term

More details

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Term deposits edge over 4% after cash rate hike

Commonwealth Bank raises term deposit rates by up to 170 basis points

AMP Bank increases term deposits spill over 4.00% p.a.

BOQ hikes term deposits by up to 100 basis points

Term Deposit - 12 months

Term Deposit - 12 months

Personal Term Deposits - 12 months

Personal Term Deposits - 12 months

Term Deposit ($25,000+) - 12 months

Term Deposit ($25,000+) - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Term Deposit ($5,000-$25,000) - 12 months

Term Deposit ($5,000-$25,000) - 12 months

Term Deposit (online) - 12 months

Term Deposit (online) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Farm Management Deposit - 12 months

Farm Management Deposit - 12 months

Term Deposit ($250000-$500000) - 12 months

Term Deposit ($250000-$500000) - 12 months

Term Deposits ($5,000-$10,000) - 12 months

Term Deposits ($5,000-$10,000) - 12 months

Term Deposit ($250k+) - 12 months

Term Deposit ($250k+) - 12 months

Investment Plus - 12 months

Investment Plus - 12 months

Bankwest Term Deposit - 12 months

Bankwest Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Term Deposit (>$5,000) - 12 months

Term Deposit (>$5,000) - 12 months

Regular Term Deposit Account - 12 months

Regular Term Deposit Account - 12 months

Online Term Deposit - 12 months

Online Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

ME Bank Term Deposit - 12 months

ME Bank Term Deposit - 12 months

Macquarie Bank Term Deposit (>$1,000,000) - 12 months

Macquarie Bank Term Deposit (>$1,000,000) - 12 months

Term Deposit (>$5,000) - 12 months

Term Deposit (>$5,000) - 12 months

Term Deposit ($5000-$1000000) - 12 months

Term Deposit ($5000-$1000000) - 12 months

Fixed Term Deposit - 12 months

Fixed Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit ($50000-$5000000) - 12 months

Term Deposit ($50000-$5000000) - 12 months

Term Deposits ($5,000 - $500,000) - 12 months

Term Deposits ($5,000 - $500,000) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Bendigo Term Deposit (>$5,000) - 12 months

Bendigo Term Deposit (>$5,000) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit ($10k+) - 12 months

Term Deposit ($10k+) - 12 months

Term Deposit ($100,000-$999,999) - 12 months

Term Deposit ($100,000-$999,999) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months