Term deposit rates in Australia, April 2026
As of 30 April 2026, the highest 12-month term deposit rate tracked by BankMate was 5.55% p.a. from Heartland (Term Deposit). The highest rate at any term was 5.65% for 5 yr from Rabobank. The average 12-month rate across 361 deposits was 4.78% p.a. (median 5.00%); 516 of 1589 deposits at any term paid 5% or more. Longer terms paid more: the average 3 yr rate was 0.18 points above the 6 mo rate. No rate changes were recorded during April 2026.
Highest 12-month rates
361 deposits · as of 30 April 2026- 5.55%1🏦HeartlandTerm Deposit1 yrGo to site
- 5.50%2🚀MOVE BankTerm Deposit11 moGo to site
- 5.50%3🏦gmcuFixed Term Deposit - 12 months1 yrGo to site
- 4RACQ Bank Term Deposit1 yr5.45%🏦
- 5Bank Australia Term Deposit 12 months1 yr5.45%🏦
- 6Bank Australia Term Deposit 12 months1 yr5.45%🏦
- 7MOVE Bank Term Deposit1 yr5.45%🚀
- 8Judo Bank Personal Term Deposits1 yr5.45%🏦
- 9Police Credit Union Ltd PALMERSTON TRM DEPOSIT13 mo5.45%🏦
- 10Police Credit Union Ltd CONTACT TERM DEPOSIT13 mo5.45%🏦
Terms from 11 to 13 months count as 12-month deposits. Rates are for new money at the minimum deposit; interest is paid at maturity unless the bank says otherwise. Business, SMSF and wholesale deposits are excluded.
Rates by term
Highest and average at each term| Term | Highest | Average | Month change |
|---|---|---|---|
| 3 mo · 160 | 5.15% | 4.15% | — |
| 6 mo · 264 | 5.55% | 4.28% | — |
| 9 mo · 248 | 5.60% | 4.30% | — |
| 1 yr · 361 | 5.55% | 4.78% | — |
| 2 yr · 219 | 5.60% | 4.62% | — |
| 3 yr · 132 | 5.45% | 4.46% | — |
| 5 yr · 46 | 5.65% | 4.92% | — |
Each deposit joins the nearest headline term within 10% of it (11 to 13 months → 12 months); deposits at odd terms such as 18 months count only in the overall figures. “Month change” compares each term's average with the same figure reconstructed for the previous month.
The Big 4
Best 12-month rate at each- 🏦4.65%at 12 monthsCommonwealth BankBest any term 5.20% · 2 yr
- 🏢5.00%at 12 monthsWestpacBest any term 5.10% · 2 yr
- 🏛️5.18%at 12 monthsANZ
- 🏪5.10%at 12 monthsNAB
Paid monthly
Highest rates that pay interest monthly- 1Rabobank Online Term Deposit5 yr5.55%🐄
- 2Rabobank Online Term Deposit5 yr5.55%🐄
- 3gmcu Monthly Income Term Deposit - 24 months2 yr5.50%🏦
- 4Rabobank Online Term Deposit5 yr5.45%🐄
- 5Rabobank Online Term Deposit5 yr5.45%🐄
For anyone drawing an income from a deposit. Banks usually shade the rate slightly for monthly payment; the figures here are the monthly-paid rate as published.
Rate changes in April
Cuts
None recorded this month.
Rises
None recorded this month.
One row per bank and direction; open a row for the deposits it moved. A bank re-pricing its whole curve is one story, not thirty.
How this report is produced
- Data
- Each bank's Consumer Data Right (open banking) product feed, re-read nightly. A rate change is recorded when a deposit's published rate differs from the last value stored.
- Figures
- Rates are each deposit's last recorded value on or before 30 April 2026; deposits with no record by then are not counted. Changes compare the last rate before the month with the last rate within it. 3123 history entries fall in this month. Tracking began in April 2026.
- Scope
- Personal term deposits open to Australian residents, as listed on BankMate, across 61 banks. Not financial advice. Methodology · Today's full ranking