Best Fixed Term Deposit Rates

The best fixed term deposit rates can be the difference between your savings sitting there doing nothing, and your balance growing before your eyes. That’s why we’re going to help you find the very best term deposit interest rates for your chosen term and help you fix your investment to achieve the best returns.

Featured High Interest Savings Account

UBank have one of the highest promo rates on the market with the UBank USaver. Get the security knowing that your money is backed by NAB. This is a high interest savings account with the ability to earn a bonus 0.50% if you deposit an extra $200 into your account monthly.

• Maximum Rate: 5.51%
• Standard Variable Rate: 4.91%
• Bonus Rate: 0.60%
• Monthly Account Fees: $0
• Minimum Balance: $0
• Minimum Deposit: $0

Read the UBank USaver terms and conditions

Why Are Fixed Term Deposit Rates the Best?

If you have not had experience with fixed investments, or if you are worried you’ll miss out on the rising official interest rates if you fix your investment rate, consider the benefits of a fixed term deposit rate, and whether they can help you grow your savings and reach your financial goals:

• A fixed rate guaranteed. Where high interest savings accounts with comparable interest rates have a variable rate and risk being reduced if the bank decides to reduce their interest rates, a term deposit rate is fixed for the entire term and you will earn the same interest rate every day of your term no matter what. This also means that your returns are guaranteed, and you will know exactly how much you will earn from the beginning and can start planning your next investment or your goal purchase.
• Fixed rates are calculated for the future. If you are worried about missing out on future rate rises, or worried about the costs of inflation over your term, the don’t be because the best fixed term deposit rates have been calculated with future rises and costs in mind, to make sure your investment keeps up with official rates, and rises in line with inflation so your returns are not diminished in value at the end of your term.
• Fixed investments don’t need to be managed. If you think about the time and effort you would spend monitoring a variable interest rate to help you decide if it was time to switch, you would often be better off with a fixed rate and a fixed investment which is low maintenance, but high yield. There is nothing you need to do to your fixed investment once your term has begun and you can still be sure your funds will grow at their guaranteed rate without your help, so you can go about the rest of your life, and plan on ways to enjoy your returns at the end of your term.

How to Find the Best Fixed Term Deposit Rates

With all these great benefits you are probably thinking that fixed term deposit rates are only available to corporate investors or those with significan’t balances to invest for long fixed terms. That is not the case, because the best fixed term deposit rates can be found on any length of term, for any investment amount, all you need to do is:

• Find the best fixed rates for your term and investment. The interest rates you can earn will vary significan’tly depending on the length of time you invest, and how much you invest. Therefore, make sure you are comparing the best fixed term deposit rates for your needs, to save yourself time in your comparisons, and to void the temptation to invest an amount in a term you can’t afford, and which could incur early access fees if you have to withdraw your funds to cover an emergency bill or expense.
• Choose the most fixed fixed term deposit rates. Fixed term deposits are not as fixed as they once were and there are a number of flexible options available. These options can offer you at call access to your funds, or the choice to trade up your interest rate if your provider increases their rate during your term. However, with these flexible options comes a lower term deposit interest rate. Therefore, the best fixed term deposit rates are found on the most fixed term deposit accounts.
• Compare from the best term deposit accounts available. Using our comparison tables you can see an overview of the best term deposit accounts with the most competitive fixed interest rates. When you are choosing from the best you can more easily find the best fixed term deposit rates to suit you.

The Best Term Deposit Rates are from the Best Providers

Before you start looking for just the best interest rate on a term deposit account, you also need to know about the importance the role of the term deposit provider plays in securing you the best return on your secure and guaranteed investment option. Without the best term deposit provider you will not have the best rate, you won’t have a secure investment and you won’t have a guaranteed return. So to make sure you get the best rates from the best term deposit provider:

• The government’s guarantee is ending so your provider’s guarantee must hold strong. In order to restore the faith of Australian savings and investment customers in their banks and financial institutions following the Global Financial Crisis, the Australian Government introduced a deposit scheme, guaranteeing deposits up to $1 million in all Authorised Deposit-Taking Institutions until October 2011. Therefore, while you have over a year of certainty that should your term deposit provider fail, the government will cover your investment amount and your returns, term deposit investments often run longer than a year, and you could be left un-guaranteed in the middle of your term. Therefore, consider the security of your choice of term deposit providers now, because a provider which would need the government to cover your deposit is not the most stable choice in the first place.
• Check that your investment options are on offer. Not all term deposit providers offer the full range of term deposit investment amounts, or terms. Some financial providers specialise in certain terms, while others simply don’t want to encourage you to invest in long term deposits when the future of interest rates can be so uncertain. Therefore, before you go any further in your search of a term deposit with the best rates, make sure the providers you are considering can give you what you need.
• Your term deposit provider will be highly regulated. All banks and financial institutions operating in Australia are regulated by ASIC and APRA, independent government agencies charged with the responsibility to ensure that all Australian banks offer fair and equitable services and products, conduct their business under transparen’t practices while making sure the financial system remains competitive and that one provider does not have a monopoly over the others, or the opportunity to charge unreasonable fees because of that industry control. To check that the term deposit provider you are considering is regulated by ASIC and APRA, you can view the list of current Australian ADIs. In doing your homework on your term deposit provider you can also compare the credit ratings of the banks and financial institutions in Australia, as a bank’s credit rating shows their standing with other major financial players and how willing those other finance companies are, to do business with your bank.
• Make sure you are happy. A recent survey found that the customer satisfaction rating of customers of the Big Four Banks was much lower than that of customers with credit unions, building societies and second tier banks. However, when you compare the service and options of a term deposit provider, consider the service you want and need and the features which are important to you.

For the latest information: Official Government Guarantee Scheme

When considering the features of term deposits the best rates are just one part of the comparisons you should make. However, as you can see, they are an integral, integrated part of the puzzle which makes up the best term deposit account, and to help you fit in the missing piece of that puzzle, we have compiled comprehensive comparison tables here. Our comparison tables can answer all your investment and interest rate questions, and help you narrow down the choice of the best term deposit account. When you have found the perfect fit with a term deposit account, follow our secure links to start an online application today, to bring the big picture of your investments to fit perfectly together.

To start your comparisons of the best fixed term deposit rates available now in Australia, view the Savings Account finder term deposit comparison tables here. You can then click directly through from the comparison table using our secure links to start an application online today and fixed your best term deposit rate before it gets away.