Find a Fixed Term Deposit Online

All term deposit accounts will generally earn you a high interest rate, you are being rewarded by the bank for letting them keep your money for a little while. Generally, the longer the term and the more money invested, the higher the interest rate. The term usually lasts from a minimum of 30 days until 3 years; but it all depends on your period which you commit to the fixed term deposit

Fixed Term deposits are especially useful when interest rates are high as the fixed rate will protect the savings against possible lower interest rates in the future. However, a penalty will be charged if the money is withdrawn before the term is up.

Featured Term Deposit Account

Reach your savings goals faster with a UBank Term Deposit Account. Your choice of a 1, 3, 6, 9 or 12 month term.

• Maximum Rate: 5.61%
• Standard Variable Rate: 3.36%
• Bonus Rate: 2.25%
• Monthly Account Fees: $0
• Minimum Balance:
• Minimum Deposit: $1000

Read the UBank Term Deposit Account terms and conditions

Fixed Term Deposit Comparison

Term Deposit	1 Month	3 Month	4 Month	6 Month	12 Month	24 Month	36 Month	60 Month	Min Deposit
UBank Term Deposits (online)	3.36%	5.21%	5.21%	5.61%	5.41%				$1000
St.George Term Deposit	2.55%	3.25%	5.05%	5.05%	5.05%	5.10%	5.20%	5.50%	$5000
Heritage Bank Term Deposit	3.00%	5.60%	3.40%	5.60%	5.50%	5.55%	5.55%	5.80%	$1000

Fixed term savings rates can benefit many Australians, but you need to be sure that they benefit you and your situation before you lock away your savings in a fixed account. Not only can you attract early access fees if you lock away funds you later need access to, but choosing a fixed term savings account when it is not right for you can leave you feeling uncomfortable about your fixed choices of which you now have no control.

However, a fixed term saving account is supposed to be easy, that is one of its best features. Therefore find out more about the benefits of fixed term savings rates, and whether you are suited to a fixed investment account.

Why Fixed Term Saving Rates Are the Best

Consider the benefits of a fixed term savings rate compared to using a variable at call savings account, or keeping your savings in your regular transaction account because with a few simple electronic transfers you could be enjoying high fixed term savings rates, so you don’t want to miss out. Fixed term savings rates are the best because:

• They are calculated for the future. You may be reluctant to fix your savings rate while official rates are rising however the rates offered on a fixed term savings account have been calculated with future rises in mind. This means that while the predictions about the Reserve Bank’s movements may change by the week and one month may see a rate rise and another may not, your interest rate is fixed at a high rate for the future, so you can sit back and enjoy your returns.
• You won’t be affected by rates changes from your provider. Term deposit interest rates are variable until they are fixed. They can often change daily and many providers have what are known as ‚ ‘blackboard specials’ which are so fluid they have to be written in chalk. So you never know what might happen to make your provider change their savings rates, but it doesn’t matter, because yours will be fixed.
• You won’t be affected by external rates changes. Your provider calculates their rates on a number of external factors too, so variable interest rates on term deposit accounts can change when the RBA makes a move, and could be affected if the second wave of the Global Financial Crisis really does happen. Plus, what happens to the Australian economy when the handouts run out? All the working families who have been carried through the tough times thanks to government grants and payouts are going to be on their own again soon, again struggling to meet their bills, and not spending anything on luxuries.

Who is Suited to Fixed Term Saving Rates

If you’re interested in avoiding the ups and downs of variable interest rates, you could be suited to a fixed term savings rate to grow your funds securely and exactly as planned. Consider a fixed term savings rate if:

• You understand the interest rate cycle. Knowing where Australia is and where we are going on the interest rates cycle can help you determine which is a good fixed rate for your savings term, and which could be better. Interest rates are rising but they won’t rise indefinitely so if you are investing past the end of this rise in the cycle, you need to make sure you know how to get the best long term fixed interest rate.
• You value a low risk to rewards ratio. A fixed term savings rate will not give you a return as high as you could find with other investment options such as managed funds or share investments. However, with a fixed term savings account you are enjoying a very low risk, and the value of that makes your returns all the more valuable as well.
• You want or need financial security. Perhaps you’re budgeting carefully for the future or you just like to know what’s going on. Regardless if you are the type of person who wants to know exactly what is happening with your savings, then a fixed rate can benefit you.

Choosing the best fixed term savings rate begins by comparing the top term deposit savings accounts available here. You’ll then be able to follow our secure links to an online application form for your chosen fixed term savings account, so you can secure your funds and fix your rate.

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