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RaboDirect Term Deposits

Get a guaranteed return on your savings

Earn up to

3.30% p.a.*

fixed interest on a 5 year Term Deposit

Smart Investor Best Term Deposit 2015 Mozo Experts Choice 2016 - Long Term Deposit
  • Start with as little as $1,000 and get your interest paid monthly, quarterly, half-yearly or yearly*
  • Receive a 0.10% loyalty bonus when you reinvest your Term Deposit before maturity
  • Terms from 1 month to 5 years for deposits of $1,000 - $2,000,000 
  • Manage your term deposit through our secure online banking site and Mobile Banking App
  • Your first $250,000 is protected by the Australian Government guarantee^
*Monthly, quarterly and half yearly interest only applies to terms 12 months or more.
This guarantee protects the first $250k of all deposits held with RaboDirect;

What our customers are saying...

Overall rating 9 / 10 'Secure, online, great rates - what's not to love?'
'This product had the best interest rates that were available at time of term start. Although there are no physical branch locations in my local area, I have had no need for one due to the highly efficient online and phone services! This is a highly secure banking organisation that I would recommend to anyone. '
Talia (NSW), reviewed 3 months ago

Overall rating 9 / 10 'Competitive rates and fantastic customer service'
'Excellent banking features online - quick and easy to use - very secure - customer service is outstanding - they will always try and accommodate our needs.'
Marina (SA), reviewed 10 months ago

Information last updated on 11/05/2016.
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Secure your savings with a fixed interest from one month to five years

Term Deposit rates


Rate (% p.a.)

1 year

2 years

3 years

4 years

5 years

Information last updated on 19/5/2016
Interest is paid annually

What’s my rate?

what's my rate?

The rates that apply to Term Deposits vary based on the Term and Interest Payment Frequency you choose.

When you automatically reinvest your Term Deposit at maturity, the bonus 0.10% p.a. is applied to the new Term Deposit

See all interest rates for Personal Savers

About Term Deposits

How do I open a Term Deposit?

If you're an existing customer and would like to open a Term Deposit, login to your RaboDirect account, click 'My quick links' and select 'Open a new Term Deposit'. If you're a new customer, click on the 'Apply now' button on the Term Deposit page on our website.

You will also get a High Interest Savings Account to be your 'primary account'. The HISA will be used to control all your RaboDirect accounts. Your HISA is connected to your Linked account, via which you put money in and take money out of your RaboDirect account(s).

How do I cancel a Term Deposit?


To cancel your Term Deposit, please call us on 1800 445 445, from 10:30am to 2:30pm (Sydney time) Monday to Friday and we will arrange this for you. Please be aware that a 31 day notice period (unless your maturity date is sooner) plus an early termination fee will apply, these are detailed in the Terms and Conditions.

How many Term Deposits can I open?


You can open as many Term Deposits as you like with a maximum value of $2 million per Term Deposit.

Is there a penalty for breaking my Term Deposit?

Yes, fees are applicable. Please refer to the Terms and Conditions for details.

Get started with a RaboDirect Term Deposit

When you open a new RaboDirect account, you'll automatically get a High Interest Savings Account in your savings portfolio, ready when you need it.

Apply online

1. Apply using our
online form
Link your bank account

2. Link your
everyday account
Start saving

3. Fund your new Term Deposit
Download our mobile app

4. Get our mobile
banking app

Apply now