The best term deposit rates in Australia may not be available from your own bank. The highest term deposit rates in February 2020 on InfoChoice are from smaller banks and online institutions. This page contains information about the best term deposit rates in February 2020 from Australian banks and credit unions listed on InfoChoice. The highest term deposit rates in Australia are currently above 2% pa. However, term deposit rates change regularly – so savers need to be actively managing their deposits, comparing rates and be prepared to switch to another institution in order to get the best rates available. Right now, Judo Bank has some of the highest term deposit rates listed on InfoChoice. Last week Judo Bank adjusted term deposit rates. Judo Bank’s current term deposit rates are: Judo Bank cuts term deposit rates. Online lender to small business and term deposit provider, Judo Bank, has adjusted term deposit rates on terms ranging from 6-months to 5-years. From Wednesday 29/01/2020 the new current Judo Bank term deposit rates are: Judo Bank term deposit rates remain some of the best term deposit rates now available on InfoChoice. Click through to Judo Bank’s term deposit application page from InfoChoice or compare Judo Bank rates with other term deposits. UBank has high rates on “Green” term deposits. UBank’s Personal Term Deposits and Green Term Deposits have competitive rates and a 0.10% pa loyalty bonus for customers who roll their cash over into a second UBank term deposit. UBank is currently offering term deposit rates of up to 1.70 per cent pa (for three and four month terms). For UBank term deposit rates, see InfoChoice. Citi paying 1.80% on big term deposits Citi Australia has a high rate for investors with high balances. For customers who are new to Citi, the bank offers 1.80 per cent pa on 3 or 6-month terms of its 31 Day Notice Term Deposits. This rate is available for balances from $250,000 to $2,000,000. See InfoChoice for all of Citi’s term deposit rates. Big bank term deposit rate update February 2020 The best term deposit rates from the big four banks include ANZ Bank’s Advance Notice Term Deposit Special Rate of 1.60 per cent pa on 7 month terms. Commonwealth Bank’s best rate on term deposits is currently 1.60 per cent pa for 8 months. NAB is paying 1.30 per cent pa for six-month term deposits. Westpac is paying 1.30 per cent pa for three-month term deposits. Compare term deposits from Australia’s banks and credit unions at InfoChoice. Compare savings accounts from Australia’s banks and credit unions at InfoChoice. The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible. The information contained on this web site is general in nature and does not take into account your personal situation. Do not interpret the listing order as an endorsement or recommendation from us. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.