Term Deposit Calculator
Use our calculator to explore how interest works for a term deposit.
FAQs
What's a term deposit calculator?
A tool that helps estimate your returns from a term deposit based on your deposit amount, interest rate, and term length.
Can I use this tool to determine term deposit calculator savings?
Yes, enter your deposit amount, choose the term length, and select the relevant interest rate to calculate your potential interest.
What interest rates are applicable for different term lengths?
Interest rates vary according to the deposit amount, interest payment frequency and the length of the term; please refer to our current rates table for detailed information.
Can I calculate the interest rate for different types of term deposits?
Yes, the calculator can be used for various term deposit types, including standard, and special term deposits.
Is the interest compounded in a term deposit?
In Australia, interest is typically compounded annually on term deposits, but this can vary depending on the specific product. In comparison, interest paid on savings accounts is calculated monthly.
How accurate are the calculations in this term deposit calculator?
The results provided are intended to be estimates based on the details provided and may vary slightly from actual earnings.
Can I compare different term deposit options using this calculator?
Yes, you can input different factors to compare potential earnings from various term deposit options, including term period, interest rate and deposit amount.
What happens if I withdraw my term deposit early?
Depending on the terms of your deposit, early withdrawal (before maturity) may result in interest rate adjustments and affect your return.
Who can I talk to for more advice about term deposits?
Please get in touch with one of our bankers or your personal finance advisor for further assistance. Note: It's always a good idea to seek independent advice in relation to any financial decisions that may affect your financial situation or personal circumstances.
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The Detail
Term Deposits Terms and Conditions and General Information (PDF 1MB)
Term Deposit Calculator
This calculator should be used as a guide only and shouldn't be relied on for making a decision in relation to renew or open a term deposit as you should consider whether the product features suit your needs. The interest calculations on this calculator are not saving recommendations but are monthly estimates only of how much could be saved based on the information provided. This calculator doesn't take into account the impact of fees and charges, tax on interest earned, changes to interest rate or closing your account before the end of term. Calculations don't take into account all of your relevant personal circumstances and you should consider whether a term deposit is appropriate for you. If you need assistance, obtain advice from a banker or financial adviser.
How this calculator works
This is a simple interest calculator. Results vary from the actual interest earned on <brand> products due to differences in the calculation methods used.
Calculator assumptions and method
Each calculation starts on the first day of the current month and assumes the initial deposit is made on the first day of the month and assumes the account is not closed before maturity. Interest is calculated daily. The calculator allows interest payment at maturity. Total amounts (including interest earned) are rounded to the nearest cent.
- Term Deposits opened or renewed during the grace period via Internet Banking or the App only. Not available in Business Banking Online.
- The bonus offer will be applied in conjunction with any other rate offer that may apply.
- Not available for customers who are not able to open or renew via Internet Banking (e.g., some joint accounts), business customers except sole traders or Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rate and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.