Best of the Best 2022: Best Term Deposits – Short-Term

Term deposits don't pay much these days, but it's still a lot better - and safer - than stuffing 
your cash under the mattress.

First place in the general bank category goes to Arab Bank, which offers automatic rollover and no minimum deposit. Interest is paid at maturity of the term for deposits up to 12 months, and annually for terms of two years or more.

Suncorp, now Australia's sixth-largest bank, takes out the major bank category with its 0.5% for 90 days.

In third place is MyLife MyFinance, which offers the highest rates across the board - 0.6% for 30 days and 0.7% for 90 and 180 days.

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