term deposits 


term deposit rates


There are three key inputs to online term deposit calculators:
  • term (usually in months)
  • payment frequency (monthly, annually or yearly). Typically you will be offered a slightly higher term deposit rate when you choose to be paid interest less frequently
  • rate. If you are using a particular bank's calculator this will most likely pre-populate based on the bank's rate offering for your selected term and payment frequency. Some calculators will feature the rate as the outcome of the calculation; others will treat it as an input to a dollar value total interest payment.
Keep in mind you are only after the best possible term deposit rate  for your preferred term, and an online calculator is not always the fastest way of finding the rate.

Consider using the term deposit rate tables on each of the bank's websites. These tables provide visibility of the rates either side of your preferred investment term, and this visibility may in fact influence your investment term decision. If you discover there is a significant rate difference by extending your term just slightly you might be enticed to lock in for that little bit longer.

If you are keen a using a term deposit calculator, either of the below are good examples: