Best Three Month Term Deposit

A term deposit requires you to lock your money away where you can’t touch it, but where it’s earning you interest. However, don’t worry that you’re going to be cash strapped because of your investment because you can choose a term deposit for as little as three months, and still get a great return on your investment.

3 Month Term Deposit Comparison

Term Deposit	1 Month	3 Month	4 Month	6 Month	12 Month	24 Month	36 Month	60 Month	Min Deposit
Macquarie Bank Term Deposit	4.70%	5.60%	5.70%	6.00%	6.00%	6.25%			$10000
St. George Term Depost			5.40%	7 months – 6.00%	6.00%	6.00%	6.50%	6.75%	$5000
Suncorp Term Deposit		5.50%	5.45%	5.15%	6.05%		6.75%		$10000

How to maximise the return on a three month term deposit:

• Compare the interest rates for three month term deposits across Australian banks and financial institutions.
• Don’t take up the option, if it’s offered, to have your returns paid monthly.
• Deposit as much of an investment as you can afford.

Three of the Best Three Month Term Deposit Options

At Savings Account Finder we are here to help you compare, so below are details of the top three, three month term deposit options in Australian banks at the moment.

Macquarie Bank three month term deposit:

• Offers an interest rate of 6.00% on investments over $10,000.
• No fees on the term deposit account.
• Fill out an application on-screen and print and send with your ID to open the account.
• You can include your bank account details in your application to have your deposit automatically transferred to your term deposit to activate the account.
• The ability to automatically rollover your investment at the end of the term to keep it earning interest.
• The option to select to re-invest just your original investment, reinvest just your interest, add more funds to your investment or have both the interest and the investment paid out.

Suncorp Bank three month term deposit:

• Offers an interest rate of 5.15% on investments over $10,000.
• No fees on the term deposit account.
• Fill out an online application form, apply over the phone or in branch.
• Your returns can be automatically paid into your linked Suncorp account for easy access.
• If you are investing more than $100,000 you could be eligible for even higher rates.

How to Choose the Best Three Month Term Deposit

While the interest earned is an important factor in the decision making process, when choosing a three month term deposit, make sure you compare all the features of your account.

To compare three month term deposit options:

• Decide how involved you want to be in your investment. If you want to set and forget your investment for three months, then choose an account which doesn’t need your input, but which simply invests your money, activates your account and earns you interest. Some term deposit accounts will allow you to make changes to how your interest is paid, or what you will do with your investment at the end of the term, during the term. Others will automatically re-invest for you at the end of the term.
• How do you access the account? Make sure you are comfortable with the way you access and activate your term deposit account because if it is hard to use, then is it really worth the extra interest? If you don’t want to open a new bank account, compare the term deposit options with your current provider, or if you prefer to do all your banking online, choose a term deposit account which gives you full internet banking access to your funds and term deposit details.
• Then choose the best interest rate. Don’t automatically choose the three month term deposit account with the best interest rate because if the other account features don’t suit you, then you are not making the right choice, regardless of how much interest you can earn. If the account is hard to use, doesn’t pay returns when you want it to or doesn’t take your deposit amount, then it’s not the best account.

You can compare all the Australian term deposit accounts available for three month terms here, and once you have decided on the one which is right for you, can apply online through the Savings Account Finder secure links.