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Term deposit rates in Australia, September 2026

As of 17 September 2026, the highest 12-month term deposit rate tracked by BankMate was 5.50% p.a. from Bank Australia (Term Deposit 12 months). The highest rate at any term was 5.55% for 2 yr from G&C Mutual Bank. The average 12-month rate across 590 deposits was 4.55% p.a. (median 4.70%); 727 of 3347 deposits at any term paid 5% or more. Longer terms paid less: the average 3 yr rate was 0.12 points below the 6 mo rate, the shape banks price when they expect cuts. During September 2026 BankMate recorded 211 rate rises and 54 cuts across 21 banks.

Highest 12-month rates

590 deposits · as of 17 September 2026
  1. 🏦
    1
    5.50%
    Bank AustraliaTerm Deposit 12 months1 yr
    Go to site
  2. 🏦
    2
    5.50%
    Bank AustraliaTerm Deposit 12 months1 yr
    Go to site
  3. 🏦
    3
    5.45%
    Police Credit Union LtdYORKETOWN TERM DEPOSIT13 mo
    Go to site
  1. 4
    🏦
    Police Credit Union Ltd MT BARKER TERM DEPOSIT13 mo5.45%
  2. 5
    🏦
    Police Credit Union Ltd MT GAMBIER TRM DEPOSIT13 mo5.45%
  3. 6
    🏦
    Police Credit Union Ltd CONTACT TERM DEPOSIT13 mo5.45%
  4. 7
    🏦
    Police Credit Union Ltd ADELAIDE TERM DEPOSIT13 mo5.45%
  5. 8
    🏦
    Police Credit Union Ltd PALMERSTON TRM DEPOSIT13 mo5.45%
  6. 9
    🏦
    Police Credit Union Ltd MARION TERM DEPOSIT13 mo5.45%
  7. 10
    🏦
    Police Credit Union Ltd TTP TERM DEPOSIT13 mo5.45%
Compare all 3347

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
Highest rateAverage rateAverage last month
3.5%4.0%4.5%5.0%5.5%3 mo6 mo9 mo1 yr2 yr3 yr5 yr5.50%3.85%
TermHighestAverageMonth change
3 mo · 3695.25%4.16%−0.11
6 mo · 5475.45%4.27%−0.15
9 mo · 5005.40%4.19%−0.13
1 yr · 5905.50%4.55%−0.16
2 yr · 3945.55%4.36%−0.12
3 yr · 3455.45%4.15%−0.18
5 yr · 1525.50%3.85%−0.32

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
  • 🏦
    4.70%at 12 months
    Commonwealth BankBest any term 4.95% · 2 yr
  • 🏢
    4.75%at 12 months
    WestpacBest any term 5.00% · 2 yr
  • 🏛️
    5.13%at 12 months
    ANZ
  • 🏪
    5.20%at 12 months
    NAB

Paid monthly

Highest rates that pay interest monthly
  1. 1
    🏦
    Bank Australia Monthly Term Deposit 12 months1 yr5.40%
  2. 2
    🏦
    Bank Australia Monthly Term Deposit 12 months1 yr5.40%
  3. 3
    🏦
    G&C Mutual Bank Term Deposit2 yr5.40%
  4. 4
    🏦
    G&C Mutual Bank Term Deposit30 mo5.40%
  5. 5
    🏦
    Judo Bank Personal Term Deposits4 yr5.40%

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 September

211 rises · 54 cuts · 21 banks

Cuts

  • 🏦
    Summerland Bank cut 12 depositsup to −0.10
    • 6 moFixed Term Deposit4.90 → 4.80−0.10
    • 6 moFixed Term Deposit4.70 → 4.60−0.10
    • 6 moFixed Term Deposit4.90 → 4.80−0.10
    • 6 moFixed Term Deposit4.80 → 4.70−0.10
    • 6 moFixed Term Deposit5.00 → 4.90−0.10
    • 6 moFixed Term Deposit4.80 → 4.70−0.10
    • 1 yrFixed Term Deposit5.10 → 5.05−0.05
    • 1 yrFixed Term Deposit5.30 → 5.25−0.05
    • 1 yrFixed Term Deposit5.10 → 5.05−0.05
    • 1 yrFixed Term Deposit5.20 → 5.15−0.05
    • 1 yrFixed Term Deposit5.00 → 4.95−0.05
    • 1 yrFixed Term Deposit5.20 → 5.15−0.05
  • 🚀
    MOVE Bank cut 11 depositsup to −0.10
    • 3 moTerm Deposit5.05 → 5.00−0.05
    • 4 moTerm Deposit5.15 → 5.10−0.05
    • 5 moTerm Deposit5.25 → 5.20−0.05
    • 6 moTerm Deposit5.35 → 5.25−0.10
    • 7 moTerm Deposit5.40 → 5.35−0.05
    • 8 moTerm Deposit5.35 → 5.30−0.05
    • 9 moTerm Deposit5.35 → 5.30−0.05
    • 10 moTerm Deposit5.35 → 5.30−0.05
    • 11 moTerm Deposit5.40 → 5.30−0.10
    • 2 yrTerm Deposit5.25 → 5.15−0.10
    • 2 yrTerm Deposit5.35 → 5.25−0.10
  • 🏛️
    ANZ cut 10 depositsup to −1.60
    • 5 moANZ Advance Notice Term Deposit3.54 → 3.44−0.10
    • 5 moANZ Advance Notice Term Deposit3.53 → 3.43−0.10
    • 5 moANZ Advance Notice Term Deposit3.55 → 3.45−0.10
    • 6 moANZ Advance Notice Term Deposit5.10 → 3.50−1.60
    • 6 moANZ Advance Notice Term Deposit5.07 → 3.48−1.59
    • 6 moANZ Advance Notice Term Deposit5.05 → 3.47−1.58
    • 1 yrANZ Advance Notice Term Deposit5.15 → 5.10−0.05
    • 1 yrANZ Advance Notice Term Deposit5.13 → 5.08−0.05
    • 1 yrANZ Advance Notice Term Deposit5.18 → 5.13−0.05
    • 1 yrANZ Advance Notice Term Deposit5.18 → 5.13−0.05
  • 🏦
    Credit Union SA cut 4 depositsup to −0.30
    • 4 moTerm Deposit5.25 → 5.10−0.15
    • 7 moTerm Deposit5.35 → 5.05−0.30
    • 10 moTerm Deposit5.35 → 5.05−0.30
    • 1 yrTerm Deposit5.25 → 5.00−0.25
  • 💳
    Newcastle Permanent Building Society cut 4 depositsup to −0.10
    • 2 yrTerm Deposit4.25 → 4.15−0.10
    • 2 yrTerm Deposit4.25 → 4.15−0.10
    • 3 yrTerm Deposit3.75 → 3.65−0.10
    • 3 yrTerm Deposit3.75 → 3.65−0.10
  • ☀️
    Suncorp Bank cut 3 depositsup to −0.05
    • 1 yrTerm Deposit5.35 → 5.30−0.05
    • 1 yrTerm Deposit5.35 → 5.30−0.05
    • 1 yrTerm Deposit5.35 → 5.30−0.05
  • 🏦
    Judo Bank cut 2 depositsup to −0.50
    • 3 moPersonal Term Deposits4.85 → 4.80−0.05
    • 7 moPersonal Term Deposits5.35 → 4.85−0.50
  • 🏦
    Alex.Bank cut 2 depositsup to −0.10
    • 1 yrTerm Deposit - Direct5.15 → 5.05−0.10
    • 1 yrTerm Deposit - Direct5.25 → 5.15−0.10
  • 🏦
    Greater Bank Limited cut 2 depositsup to −0.10
    • 1 yrTerm Investment - Interest @ Maturity5.35 → 5.25−0.10
    • 1 yrTerm Investment - Interest @ Maturity5.35 → 5.25−0.10
  • 🏦
    Regional Australia Bank cut 2 depositsup to −0.10
    • 6 moTerm Savings5.00 → 4.90−0.10
    • 1 yrTerm Savings5.30 → 5.25−0.05
  • 🏪
    NAB cut 1 deposit−1.30
    • 9 moNAB Term Deposit5.00 → 3.70−1.30
  • 🏦
    IMB Bank cut 1 deposit−0.10
    • 1 yrTerm Deposit5.25 → 5.15−0.10

Rises

  • 🐄
    Rabobank raised 115 depositsup to +0.30
    • 3 moOnline Term Deposit4.80 → 4.95+0.15
    • 3 moOnline Term Deposit4.80 → 4.95+0.15
    • 3 moOnline Term Deposit4.85 → 5.00+0.15
    • 3 moOnline Term Deposit4.85 → 5.00+0.15
    • 3 moOnline Term Deposit4.75 → 4.90+0.15
    • 6 moOnline Term Deposit4.90 → 5.00+0.10
    • 6 moOnline Term Deposit5.00 → 5.10+0.10
    • 6 moOnline Term Deposit4.95 → 5.05+0.10
    • 6 moOnline Term Deposit5.00 → 5.10+0.10
    • 6 moOnline Term Deposit4.95 → 5.05+0.10
    • 9 moOnline Term Deposit4.95 → 5.15+0.20
    • 9 moOnline Term Deposit4.95 → 5.15+0.20
    • and 103 more deposits at Rabobank
  • 💼
    Macquarie Bank Limited raised 28 depositsup to +0.20
    • 3 moMacquarie Term Deposit5.00 → 5.05+0.05
    • 3 moMacquarie Term Deposit4.98 → 5.03+0.05
    • 3 moMacquarie Term Deposit4.98 → 5.03+0.05
    • 3 moMacquarie Term Deposit5.00 → 5.05+0.05
    • 4 moMacquarie Term Deposit5.00 → 5.05+0.05
    • 4 moMacquarie Term Deposit4.97 → 5.02+0.05
    • 4 moMacquarie Term Deposit5.00 → 5.05+0.05
    • 4 moMacquarie Term Deposit4.97 → 5.02+0.05
    • 6 moMacquarie Term Deposit5.05 → 5.20+0.15
    • 6 moMacquarie Term Deposit5.05 → 5.20+0.15
    • 6 moMacquarie Term Deposit5.02 → 5.17+0.15
    • 6 moMacquarie Term Deposit5.02 → 5.17+0.15
    • and 16 more deposits at Macquarie Bank Limited
  • 🏦
    Coastline Bank raised 12 depositsup to +0.50
    • 6 moI50 Gold Mbr Ftd 6 Mths4.70 → 4.90+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.80 → 5.00+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.70 → 4.90+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.80 → 5.00+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.70 → 4.90+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.80 → 5.00+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.90 → 5.10+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.90 → 5.10+0.20
    • 6 moI50 Gold Mbr Ftd 6 Mths4.90 → 5.10+0.20
    • 2 yrI23 Term Deposit 24 Mths4.30 → 4.80+0.50
    • 2 yrI23 Term Deposit 24 Mths4.20 → 4.70+0.50
    • 2 yrI23 Term Deposit 24 Mths4.40 → 4.90+0.50
  • 🏦
    People First Bank raised 9 depositsup to +0.10
    • 3 moTerm Deposit3.90 → 4.00+0.10
    • 4 moTerm Deposit4.75 → 4.85+0.10
    • 5 moTerm Deposit3.90 → 4.00+0.10
    • 6 moTerm Deposit4.90 → 5.00+0.10
    • 7 moTerm Deposit5.25 → 5.35+0.10
    • 8 moTerm Deposit4.40 → 4.50+0.10
    • 9 moTerm Deposit5.00 → 5.10+0.10
    • 10 moTerm Deposit4.40 → 4.50+0.10
    • 11 moTerm Deposit4.40 → 4.50+0.10
  • 🏦
    Bank Australia raised 8 depositsup to +0.25
    • 6 moMonthly Term Deposit 6 months5.10 → 5.20+0.10
    • 6 moMonthly Term Deposit 6 months5.10 → 5.20+0.10
    • 6 moTerm Deposit 6 months5.20 → 5.30+0.10
    • 6 moTerm Deposit 6 months5.20 → 5.30+0.10
    • 1 yrMonthly Term Deposit 12 months5.15 → 5.40+0.25
    • 1 yrMonthly Term Deposit 12 months5.15 → 5.40+0.25
    • 1 yrTerm Deposit 12 months5.25 → 5.50+0.25
    • 1 yrTerm Deposit 12 months5.25 → 5.50+0.25
  • 🏦
    Alex.Bank raised 8 depositsup to +0.20
    • 2 yrTerm Deposit - Direct4.80 → 5.00+0.20
    • 2 yrTerm Deposit - Direct4.70 → 4.90+0.20
    • 3 yrTerm Deposit - Direct4.70 → 4.90+0.20
    • 3 yrTerm Deposit - Direct4.80 → 5.00+0.20
    • 4 yrTerm Deposit - Direct4.70 → 4.90+0.20
    • 4 yrTerm Deposit - Direct4.80 → 5.00+0.20
    • 5 yrTerm Deposit - Direct4.80 → 5.00+0.20
    • 5 yrTerm Deposit - Direct4.70 → 4.90+0.20
  • 🏦
    MyState Bank raised 8 depositsup to +0.20
    • 3 moRegular Term Deposit4.75 → 4.95+0.20
    • 3 moOnline Term Deposit4.75 → 4.95+0.20
    • 6 moRegular Term Deposit4.85 → 5.00+0.15
    • 6 moOnline Term Deposit4.85 → 5.00+0.15
    • 9 moRegular Term Deposit4.95 → 5.10+0.15
    • 9 moOnline Term Deposit4.95 → 5.10+0.15
    • 1 yrRegular Term Deposit5.05 → 5.25+0.20
    • 1 yrOnline Term Deposit5.05 → 5.25+0.20
  • 🏦
    Judo Bank raised 6 depositsup to +0.10
    • 4 moPersonal Term Deposits4.75 → 4.80+0.05
    • 1 yrPersonal Term Deposits5.25 → 5.35+0.10
    • 2 yrPersonal Term Deposits5.40 → 5.45+0.05
    • 2 yrPersonal Term Deposits5.30 → 5.35+0.05
    • 3 yrPersonal Term Deposits5.40 → 5.45+0.05
    • 3 yrPersonal Term Deposits5.30 → 5.35+0.05
  • 🏪
    NAB raised 5 depositsup to +0.05
    • 1 yrNAB Term Deposit5.15 → 5.20+0.05
    • 1 yrNAB Term Deposit5.15 → 5.20+0.05
    • 1 yrNAB Term Deposit5.05 → 5.10+0.05
    • 1 yrNAB Term Deposit5.05 → 5.10+0.05
    • 1 yrNAB Term Deposit5.15 → 5.20+0.05
  • 🏛️
    ANZ raised 4 depositsup to +1.45
    • 7 moANZ Advance Notice Term Deposit3.54 → 4.99+1.45
    • 7 moANZ Advance Notice Term Deposit3.55 → 5.00+1.45
    • 7 moANZ Advance Notice Term Deposit3.53 → 4.96+1.43
    • 7 moANZ Advance Notice Term Deposit3.52 → 4.94+1.42
  • 💳
    ING raised 2 depositsup to +0.55
    • 11 moPersonal Term Deposits5.00 → 5.35+0.35
    • 2 yrPersonal Term Deposits4.70 → 5.25+0.55
  • 🏦
    RACQ Bank raised 2 depositsup to +0.25
    • 3 moTerm Deposit5.00 → 5.25+0.25
    • 6 moTerm Deposit5.30 → 5.45+0.15
  • 🏦
    Beyond Bank Australia raised 2 depositsup to +0.10
    • 6 moINV - 6 Mth Capitalise4.60 → 4.70+0.10
    • 6 moINV - 6 Mth Capitalise4.90 → 5.00+0.10
  • 🏦
    Greater Bank Limited raised 2 depositsup to +0.10
    • 6 moTerm Investment - Interest @ Maturity5.00 → 5.10+0.10
    • 6 moTerm Investment - Interest @ Maturity5.00 → 5.10+0.10

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
This is the current month, so the tables show live rates. Changes compare the last rate before the month with the last rate within it. 319 history entries fall in this month. Tracking began in April 2026.
Scope
Personal term deposits open to Australian residents, as listed on BankMate, across 80 banks. Not financial advice. Methodology · Today's full ranking