Cash rate rises from the Reserve Bank over the past two years have benefited Australian savers by creating a more competitive market for term deposit rates.
Today we’re announcing Canstar’s Term Deposits Awards, which shine a spotlight on financial institutions that excel in offering high-quality term deposit products, covering rates, terms, and product features to meet the diverse needs of depositors.
This year, Canstar has assessed 74 products from 62 providers to determine 2 outstanding award-winning providers.
Using Canstar’s unique and sophisticated methodology, we identify the bank and customer-owned institution that achieve the highest cumulative score, earning them the prestigious Bank of the Year and Customer-Owned Bank of the Year Awards for Term Deposits.
Our expert research team delved into deposit amounts of $25,000 and $75,000, spanning a variety of terms from one month to five years. Leveraging six months of historical interest rates, we meticulously evaluated each offering to ensure comprehensive coverage.
Congratulations to the winners:
🥇 Judo Bank Bank of the Year – Term Deposit
🥇 G&C Mutual Bank Customer-Owned Bank of the Year – Term Deposit
Curious to learn more? Click the link below to dive into the full details of our methodology and uncover the intricacies behind our assessments.
Technical Services Consultant
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