Compare 6 to 12-Month Term Deposits

A 6 to 12 month term deposit fixes the rate for a middle-length term without locking the money away for years. Compare rates from 5.35% with Rabobank's Online Term Deposit, and check what happens at maturity, since most banks roll the deposit into a new term at their standard rate unless you give instructions.

Rates checked against every provider’s own published data on 19 Oct 2026

Last updated 19 Oct 2026 · Who wrote this

Written by Joshua PevyReviewed by Jordan PearceLast updated 19 Oct 2026How We Rank This PageEditorial StandardsOur Writers

Comparing 4 products

Depositing $10,000 over 1 year at the highest shown:

Top rate: 5.35% p.a.
Interest earned: $535
Balance after 1 year: $10,535

Estimate only, based on Rabobank’s highest advertised rate. Each product is priced at its own rate for this term and its own interest-payment schedule, so a deposit paying at maturity earns simple interest.

		Term length	Actions
Rabobank	Max rate5.35%	Term length9 mo–1 yr	Compare Rabobank Online Term Deposit	Competitive fixed interest with the choice of 1 month to 5 year terms.
Southern Cross Credit Union	Max rate5.30%	Term length7 mo–1 yr	Compare Southern Cross Credit Union Term Deposit
Commonwealth Bank	Max rate5.30%	Term length7 mo–1 yr	Compare Commonwealth Bank Standard Term Deposit	Feel confident knowing exactly how much your money will earn. Lock-in a competitive interest rate from as short as 1 month to as long as 5 years.
Bendigo Bank	Max rate4.90%	Term length7 mo–1 yr	Compare Bendigo Bank Standard Term Deposit	Bendigo Bank’s range of term deposits offer great rates so you can watch your money grow. At maturity, reinvest, add extra or withdraw all/part of your investment from any Bendigo Branch.

Rates and fees are sourced from each provider’s CDR Product Reference Data where the provider publishes it.

Important information

About this table: using the data available to us, we have tried to show products that match this table’s title. This table does not compare all products, and there may be products with a higher rate in the market that are not shown here. Do your own research to find a product that suits your needs and financial goals. See how we choose products for tables like this.

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Rates, fees and charges are subject to change without notice. Before acting on any information shown here, you should confirm the rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best”, these relate solely to the rates of interest offered by the provider and not to any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.

This table does not compare every feature that may be relevant to you. Products are selected for relevance to the table and to the filters applied. They are not suggestions or recommendations, and the order they appear in is not a ranking of suitability. Changing the filters will surface further relevant products. See how we sort and rank products.

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This information is general in nature. It does not take into account your objectives, financial situation or needs, and it is not a recommendation to apply for or hold any particular product. You should read the provider’s Key Facts Sheet, Target Market Determination and terms and conditions before deciding. CompareThat compares products. We do not arrange, approve or process applications.

Why 6 to 12-month term deposits are popular

The 6 to 12-month range is the sweet spot for many savers: long enough to often carry a competitive rate, short enough that your money isn’t tied up for years. It’s a common choice for funds you won’t need within the year but want available before locking in for longer.

How the rate is fixed

You agree the rate up front and it holds for the whole term. That protects you if rates fall, but means you won’t benefit if they rise before maturity. Within this range, rates can differ noticeably between a 6-month and a 12-month term, and the longer term does not always pay more.

Interest, maturity and rollover

Interest can be paid at maturity or more regularly for income. Interest only compounds if it is added back in when you roll over. When the term ends, you can withdraw or roll over. Many banks auto-roll at the current rate unless told otherwise, while some, such as Commonwealth Bank, move the money to a lower-paying holding account. A grace period after maturity is the window to change it. Deposits are protected by the Financial Claims Scheme up to $250,000 per account-holder, per institution.

How 6 to 12-month term deposits compare

The rate at each term length, the interest frequency and the rollover rules are the figures that separate them. Term deposits can be compared side by side, alongside shorter and 12-month options on the term deposits hub.

Expert view

“Most savers end up somewhere in the six to twelve month band. Twelve months does not always beat six, though, and the numbers on the day decide it. Maturity is the other moment that matters, because a rollover can land on a weaker rate.”

Jordan Pearce

Senior finance writer, CompareThat

Glossary

The key terms you’ll meet when comparing these products, reading product disclosures or talking to a provider.

Term	What it means
Early withdrawal	Accessing your funds before maturity, which usually requires notice and reduces the interest you earn.
Financial Claims Scheme (FCS)	A government guarantee protecting deposits up to $250,000 per account-holder per authorised deposit-taking institution.
Fixed rate	An interest rate locked for the full term, unaffected by market movements during that time.
Grace period	A short window after maturity (often around seven days) to decide what to do with the funds without penalty.
Interest frequency	How often interest is paid, for example monthly, annually, or only at maturity.
Maturity	The date a term deposit ends and your funds plus interest become available.
Rollover	Automatically reinvesting a matured term deposit into a new term, often at the current advertised rate.
Term deposit	A deposit locked away for a fixed term at a fixed interest rate.

Common questions

Does a 6 or 12-month term pay more?

It depends on the rates on offer and when you’ll need the money. Rates can differ between the two, and longer isn’t automatically higher.

Will my rate change during the term?

No. The rate is fixed when you open the deposit and holds for the whole term, regardless of market movements.

How is interest paid?

You can usually choose interest at maturity, which can compound, or more frequent payments for income. The options vary by provider.

What happens when the term ends?

You can withdraw or roll into a new term. Many banks auto-roll at the prevailing rate unless instructed otherwise during the grace period after maturity, and some move the money to a lower-paying holding account instead.

Are these term deposits guaranteed?

Yes. Deposits with an Australian authorised deposit-taking institution are protected by the Financial Claims Scheme up to $250,000 per account-holder, per institution.

The Numbers Behind This Market

What this market is paying or charging on average right now, and the official figures behind it.

Why you can trust CompareThat

We are not a lender, broker or bank. Product data comes straight from each provider’s own Consumer Data Right feed (Australia’s official open banking system) and is refreshed daily, so what you see reflects published rates and fees, not a sales pitch.

Not a credit provider: we do not lend, arrange loans or take applications.
Sourced from each provider’s CDR Product Reference Data, refreshed daily.
Payment can change where a product appears, never which products we show.
General advice only, not personal advice. CompareThat compares; it does not recommend.

Rates and fees are sourced from each provider’s CDR Product Reference Data as of the date shown. This page is general advice only, not personal advice. CompareThat is not a bank. Payment can change where a product appears, never which products we show.