Term DepositsHow it works

Term deposits (TDs) are cash investments, offered by banks and other institutions, which pay you a fixed interest amount to hold your cash for a fixed term. 

You can choose different time periods (terms) for your TD, ranging from one to six months and one to five years.

You can spread your investments across a variety of institutions and terms to diversify your portfolio.

Through brightday you can invest in any of the TDs on this list.  

Link to approved TD list

To open a TD, all you need to do is complete a simple online form.


Not sure whether TDs are right for you?

Use our portfolio planner to find out, in just two minutes, how you might invest your money to achieve your objectives, based on the information you provide.



Things you should know

  • If you have a Complete Super account, you can only invest in TDs at institutions with a credit rating of BBB+ and above.
  • SMSF accounts can invest in any TD on the approved list
  • The minimum investment you can make is generally $1000 but this can vary between providers
  • To get your money back before the end of the term, you will be charged a fee and/or lose some or all of the interest that would have been paid to you at the end of the term
  • Only new TDs can be set up. If you have existing TDs as part of your portfolio, just wait until they mature, then set them up as new deposits 
  • Accounts in pension phase can only select terms of one year and under