What are the average term deposit rates right now?
One year term deposits are traditionally the most popular term deposit length. One year term deposits are currently paying an average rate of about 2.72 per cent (in July 2015), down from 2.91 per cent in April.
Three year term deposits are paying an average rate of 2.91 per cent per annum in July 2015, down from 3.09 per cent in April 2015.
Five year term deposits are paying an average rate of about 3.07 per cent, down from 3.28 per cent three months ago.
Term deposit rates change regularly and without much notice. If you are looking for a better rate on your term deposit, compare deals and switch to a great deal today.