I don't add the 5 month term deposits on the best savings page: Compare the best savings account rates, highest interest rate on instant access and term deposits so this one may have been missed, Bank West (anyone else think Adam West whenever they see Bank West, just me?) are offering an interest rate of 4.3% for 5 months, however they're currently offering that for 3 months as well:
Comparing the best rate for 3 months term deposit
Bank West: Bankwest Term Deposits
- 4.30% p.a. for 5 months (interest paid at maturity)
- no fees
- deposit anything from $1,000 to $5 million
If you're looking for a term deposit with a great rate and keen to get the job done online, you can earn a good return with an Online Term Deposit (also known as tddirect). The exact rate depends on the term so whether you want to put your money away for a few months, or a year, you'll find our rates are hard to beat.
You can open an Online Term Deposit with as little as $1,000. As this is an online account you'll need to link to and transfer the money in from an account from any Australian financial institution.
What you will need to apply online
- Account details (BSB and account number) of an existing everyday Australian bank account that will be linked to this savings account.
- Sufficient funds to transfer as an opening deposit on the day your new account is opened - this could be as early as today!
- Tax File Number, if you wish to avoid paying withholding tax. However, you can complete your application without this.
See how much you can ea