Term Deposit Calculator — Australia
Calculate your fixed-deposit maturity value and interest in AUD at current rates. No signup, no account needed.
Enter a deposit amount, a rate between 0% and 100%, and a term above zero (up to 50 years) to see results.
Fixed deposit rates in Australia (2026)
12-month term deposit rates at the Big Four run about 4.75–5.30% p.a. (banks' own pages, October 2026). Top rates at Macquarie, Judo Bank, Bank of Sydney. Check each bank's own rate page.
At around 5.25%, the fixed-deposit rate in Australia is around the typical range for developed-market deposits.
Reference figures, ~2026. FD interest is often taxable and rates vary by bank and tenure - verify the current rate before depositing.
Worked example
For every $30,000 deposited at 5.25% for 5 years (quarterly compounding):
- Maturity value: $38,939
- Interest earned: $8,939
Scale to your deposit amount. Longer tenures and higher rates grow the maturity value; compare banks before locking in.
How to get the best fixed-deposit return in Australia
- Compare several banks - smaller and digital banks often pay more than the big high-street names.
- Ladder your deposits across different tenures so some matures regularly and you can reinvest at new rates.
- Check how often interest compounds; more frequent compounding grows the maturity value.
- Factor in tax on the interest, and compare against short-term government bills or bonds.
A named-bank rate check: Big Four term deposits (2026)
On the banks' own rate pages, NAB lists 5.30% p.a. on a 12-month term deposit (rates effective 12 October 2026), CommBank 4.90% standard or 5.30% on a limited-time special (from 18 September 2026), and Westpac 4.75% standard or up to 5.30% on an online offer for existing customers (from 21 September 2026). ANZ publishes its current 12-month rate on its own term deposit page (minimum deposit AUD 5,000). This means the calculator's previous 4.5% default was noticeably below what the major banks were actually paying, so it has been updated to 5.25%.
Term deposit rates move with the Reserve Bank of Australia's cash rate cycle, so always check a bank's current rate card before locking in funds — advertised "special offer" rates are often reserved for new money, online applications, or existing customers renewing early.
A more realistic example: depositing AUD 20,000 in a term deposit at 5.25% p.a., compounded annually, grows to AUD 21,050.00 after 1 year (AUD 1,050.00 in interest) and to AUD 22,155.13 after 2 years (AUD 2,155.13 in total interest).
Frequently Asked Questions
How is FD maturity calculated in Australia?
Maturity = P × (1 + r/4)^(4n) for quarterly compounding, where P is the deposit, r the annual rate and n the years. fin·calc uses this standard method.
What is the current FD rate in Australia?
As a 2026 reference, fixed-deposit rates are around 5.25% per year, varying by bank and tenure. 12-month term deposit rates at the Big Four run about 4.75–5.30% p.a. (banks' own pages, October 2026). Top rates at Macquarie, Judo Bank, Bank of Sydney. Check each bank's own rate page.
Is FD interest taxable in Australia?
In Australia, savings interest is not taxed at a special rate — the ATO adds it to your other income and taxes it at your marginal rate (up to 45% plus the Medicare Levy).
Is a fixed deposit safe in Australia?
Fixed deposits carry no market risk. In Australia, deposits are guaranteed under the Financial Claims Scheme up to A$250,000 per account-holder, per licensed bank. They trade higher safety for lower long-term returns than equities.
Should I choose a fixed deposit or invest instead in Australia?
A fixed deposit gives a guaranteed return and suits money you cannot afford to risk. Investing targets higher long-term growth but can fall in value. Many people keep an FD for safety and invest separately for growth.
What is a realistic term deposit rate in Australia right now?
As of October 2026, the Big Four banks' own rate pages show 12-month term deposit rates from 4.75% (Westpac standard) to 5.30% p.a. (NAB, and the CommBank and Westpac specials). Check ANZ's own term deposit page for its current rate.
How is interest compounded on an Australian term deposit?
Most Australian term deposits under 12 months pay simple interest at maturity, while terms of 12 months or longer typically let you choose annual, half-yearly, quarterly or monthly interest payments. If interest is added back to the principal, the formula A = P(1+r/n)^(nt) applies.
Does the RBA cash rate affect term deposit rates?
Yes. Banks generally adjust term deposit rates in response to changes (or expected changes) in the RBA cash rate target, so a rate check against the bank's own current rate page is more reliable than relying on an old default figure.
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Sources
Deposit rates are compiled from each country's central-bank publications and the typical offerings of its major banks, reviewed for 2026 and subject to change — always confirm the current rate with your bank before depositing. See our methodology and editorial policy for how we source and update this data.
Additional sources for this page
NAB, Term Deposit Rates (rates effective 12 October 2026; accessed 15 October 2026). CommBank, Term Deposit Interest Rates & Fees (latest rates as of 18 September 2026; accessed 15 October 2026). Westpac, Term Deposit Rates (online offer from 21 September 2026; accessed 15 October 2026). ANZ, Advance Notice Term Deposit rates (accessed 15 October 2026). See our methodology and editorial policy for how we source and update this data.