Term Deposit Calculator Australia

Calculate term deposit returns with compound interest. See maturity value, total interest earned, and after-tax returns at your marginal rate.

Deposit amount ($)

The amount you deposit into the term deposit

Annual interest rate (%)

The advertised annual interest rate

Market median 5.00% p.a. (middle half 4.50–5.20%) across 60 institutions' 12-month term deposits of $10,000 paid at maturity, public CDR data collected 14 Sep 2026. Compare rates

Term (months)

How long your money is locked in

Interest payment frequency

How often interest is compounded. More frequent = higher return.

TFN provided (no tax withheld)

Maturity value$10,500.00

Summary

Principal$10,000.00

Total interest$500.00

Effective annual rate5%

How this works:Term deposit interest is assessable income and taxed at your marginal rate. Any no-TFN tax withheld is credited against your tax liability when you lodge your return.

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Public CDR rates Find a term deposit rate to model Filter fixed rates by deposit amount, term and when interest is paid. Explore rates →

Tax Accuracy & Sources

Tax year: 2026-27

This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.

Is tax withheld from term deposit interest?

If you give the bank your Tax File Number (TFN), no tax is withheld at the source — the interest is assessable income you declare in your tax return and pay at your marginal rate. If you don't provide your TFN, the bank must withhold no-TFN withholding tax at 47%, which you then claim back as a credit when you lodge.

How is term deposit interest taxed?

Term deposit interest is assessable income and taxed at your marginal tax rate. The interest is declared in your tax return. Any no-TFN tax withheld by the bank is credited against your tax liability.

What compounding frequency gives the best return?

More frequent compounding (monthly) produces higher returns than less frequent (annually or at maturity) because interest earns interest on interest sooner.

Comparing a fixed-rate bond instead of a term deposit? Use the Bond Yield Calculator to work out current yield and yield to maturity.

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