Term Deposit Calculator

With low official interest rates, getting a good return on your money is important. Our term deposit calculator helps you determine your accumulated savings based on the amount invested, the term of investment and the interest rate offered.

Please note: The calculations do not take into account all fees and charges. The results provided by this calculator are an estimate only, and should not be relied on for the purpose of making a decision in relation to a term deposit. Consider whether you need financial advice from a qualified adviser. Interest rates and other costs may change over time, affecting the total return from the product.

What is a Term Deposit?

A term deposit is an investment of cash placed with a financial institution for a fixed period of time, known as the term, with a fixed interest rate for your return at the end of the term. Term deposits are commonly referred to as a TD but can also be known as a certificate of deposit or CD, a time deposit or “bonds”.

Fixed terms can typically range from one month to five years – but some can be up to ten years – and the money can usually only be withdrawn at the end of the term. If you need to withdraw your funds before the end of the set term, you may receive an interest rate penalty.

Term deposits are popular for use by investors who prefer receiving a set return, instead of worrying about the possible daily fluctuations of the interest rates on offer for at-call accounts.  Some investors may use term deposits as just one part of their particular mix of investments.

Applying for a term deposit is essentially the same as applying for a normal savings bank account, and most applications can be made online.

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