What are the best 5-year term deposit rates in Australia?
Interest rates on 5-year fixed deposits with Australian banks are typically slightly above 4% per annum.
What is the maximum term for fixed deposits?
Typically, the maximum term in the deposit line of fixed deposits of Australian banks does not exceed 5 years, but some players may offer a longer period.
What documents do I need to open a term deposit?
The common documents and information you may need to open a term deposit are:
- Passport, Driver's license, National ID card
- Medicare card, Birth certificate
- Utility bill, bank statement, or rental agreement, to verify your address
- Tax File Number (TFN) or Australian Business Number (ABN)
- Employment details, source of funds, or financial statements
Calculate future income on a 5-year term deposit (example):
|
Amount, $ |
Rate, % |
Accrued %, $ |
|
62 000 |
4,70% |
14 570 |
|
62 000 |
4,75% |
14 725 |
|
62 000 |
4,80% |
14 880 |
|
115 000 |
4,75% |
27 313 |
|
115 000 |
4,80% |
27 600 |
|
115 000 |
4,85% |
27 888 |
|
207 000 |
4,80% |
49 680 |
|
207 000 |
4,85% |
50 198 |
|
207 000 |
4,90% |
50 715 |
|
323 000 |
4,85% |
78 328 |
|
323 000 |
4,90% |
79 135 |
|
323 000 |
4,95% |
79 943 |
|
648 000 |
4,90% |
158 760 |
|
648 000 |
4,95% |
160 380 |
|
648 000 |
5,00% |
162 000 |