St. George’s 12-month online special at 5.35% p.a. looks strong, but the market leader offers 5.45% p.a. This guide breaks down St. George’s current term deposit offerings and shows you exactly where they stack up against the best rates across Australia.
St. George highest rate (12-month special): 5.35% p.a. ·
Standard 6-month rate: 3.40% p.a. ·
Online bonus for 12-month term: +0.10% p.a. ·
Best competitor (Canstar-cited max): up to 5.45% p.a. ·
Senior citizen special? (St. George): No published senior rate
Quick snapshot
- 12-month online special: 5.35% p.a. (St.George Bank official rates page)
- 6-month standard: 3.40% p.a. (St.George Bank official rates page)
- $1,000 minimum deposit, no fees (St.George Bank product page)
- Exact senior citizen rate – not published by St. George
- Whether the 5.45% competitor rate is still available – verify at InfoChoice
- Whether a 9.5% senior rate exists (likely outdated or not Australian)
- 12-month special offer available from 2026-05-08 for existing customers opening or renewing online (St.George Bank official rates page)
- Rates change periodically; always check stgeorge.com.au for latest (St.George Bank official rates page)
- Compare St. George with top competitors using Canstar and InfoChoice tables
- Use St. George’s online calculator to estimate returns
- Check if you qualify for the online-only bonus (existing online customers only)
Six key facts that summarise St. George’s current term deposit offerings at a glance.
| Feature | Value |
|---|---|
| 12-month online special rate | 5.35% p.a. |
| Standard 1-month rate | 1.40% p.a. |
| Maximum term offered | 5 years (rates not listed in snippet) |
| Minimum deposit | $1,000 (standard) |
| Online bonus amount | +0.10% p.a. |
| Best competitor (aggregator) | 5.45% p.a. |
What Are Current St. George Term Deposit Rates?
St. George offers a tiered rate structure depending on the term and whether you open the account online. For existing customers who bank online and in the app, a 0.10% p.a. bonus is applied automatically to eligible terms (St.George Bank official rates page). Here’s the full lineup for interest paid at maturity.
Rates for key terms: 1, 3, 6, 12, 24 months
- 1 month: 1.40% p.a. (standard)
- 3 months: 3.25% p.a. (St.George Bank official rates page)
- 6 months: 3.40% p.a. (St.George Bank official rates page)
- 12 months: 5.25% p.a. standard + 0.10% online bonus = 5.35% p.a. (St.George Bank official rates page)
- 24 months: 5.00% p.a. (standard) or up to 5.30% with online bonus (St.George Bank product page)
Online special vs standard rates
The 0.10% online bonus applies when you open or renew a term deposit online during the grace period. Without it, the 12-month rate drops to 5.25%. The 24-month term jumps from 5.20% to 5.30% with the bonus. The catch: the online bonus is only available to existing customers who already use St. George’s internet banking or app (St.George Bank official rates page).
New customers cannot access the online bonus unless they first open a transaction account. For a first-time depositor, the standard 12-month rate of 5.25% is still competitive, but you miss out on that extra 0.10%.
The pattern: St. George rewards existing digital customers with a small but consistent yield bump. For term lengths beyond 12 months, the rates taper off—the 24-month special tops out at 5.30%, well below the 12-month peak.
What Is St. George’s Highest Interest Rate on a Term Deposit?
Across all terms and conditions, the highest rate St. George advertises is 5.35% p.a. for a 12-month online special. That beats the standard 12-month rate by 0.10% and the 24-month maximum by 0.05%. However, it does not reach the 5.45% benchmark seen on aggregator sites like InfoChoice and Canstar (InfoChoice independent rate aggregator).
Maximum rate with online offer
- 12-month online special: 5.35% p.a. (base 5.25% + 0.10% online bonus)
- 24-month online special: up to 5.30% p.a. (base 5.20% + 0.10% online bonus)
- Standard maximum without bonus: 5.25% for 12 months
St. George does not offer a rate at 5.45% or above. That level belongs to competitors like Heartland Bank and GMCU (Canstar Australian finance comparison authority).
The trade-off: St. George’s headline rate is 0.10% below the market best, but it comes from a major brand with branch access and government guarantee coverage up to $250,000 (St.George Bank product page).
Where Can I Get a 5% Interest Rate on a Term Deposit in Australia?
Several Australian banks offer 5% or more on term deposits right now. St. George’s 5.35% qualifies, and so do rates from Heartland Bank (5.45% for 12 months), Judo Bank (5.35%), and GMCU (5.50% for 12 months) (Finder consumer comparison site).
St. George 5%+ options
- 12-month online special: 5.35% p.a.
- 24-month online special: up to 5.30% p.a.
- Standard 24-month: 5.00% p.a. (if paid at maturity) (St.George Bank official rates page)
Other banks offering 5% or more
According to Canstar’s comparison table updated June 2026, the best 12-month rates include 5.60%, 5.50%, 5.45%, and 5.00% depending on the provider. Heartland Bank sits at 5.45% for a 12-month term (Canstar Australian finance comparison authority). InfoChoice lists GMCU at 5.50% for 12 months and Heartland Bank at 5.45% for 3 years (InfoChoice independent rate aggregator).
Which Bank Has the Highest Term Deposit Rate Right Now?
As of June 2026, the highest term deposit rate in Australia sits at 5.60% for 12 months, according to Canstar’s database. That rate is offered by a smaller institution, not one of the big four. St. George’s 5.35% places it in the upper band but not at the peak.
Current market leaders
- GMCU: 5.50% for 12 months (InfoChoice independent rate aggregator)
- Heartland Bank: 5.45% for 12 months (Canstar Australian finance comparison authority)
- Judo Bank: 5.35% for 12 months (Finder consumer comparison site)
- St. George: 5.35% for 12 months (online special)
- CommBank: 5.25% for 12 months (CommBank Australia’s largest bank)
The pattern: St. George matches or beats the big four (CommBank’s 5.25%) but falls behind smaller lenders. The trade-off for going with a less familiar name is a potentially higher rate, but those institutions may have more restrictive terms or lower deposit caps.
Are St. George Term Deposit Rates Higher for Seniors?
St. George does not publish a separate senior citizen rate for term deposits. The official interest rate page lists no age-based tiers, and the term deposit product page makes no mention of a senior bonus (St.George Bank official rates page).
Senior-specific offerings at St. George
None confirmed. The only bonus rate is the online offer, which is available to all existing customers regardless of age. If you’re a senior who prefers to transact in branch, you may not qualify for the online bonus, effectively locking you into the standard rate.
Best senior term deposits in Australia
Some smaller banks and credit unions occasionally offer age-based specials. However, the widely circulated figure of 9.5% appears to be either outdated or not Australian. As of June 2026, no major comparison site lists a rate above 5.60% for any term, senior or not (Canstar Australian finance comparison authority).
Senior-specific rates are rare among big banks. If you see a claim of 9.5% on a term deposit, treat it as highly suspect—the best rate in the country right now is 5.60%.
How Do St. George Rates Compare With the Best Term Deposit Rates in Australia?
Let’s line up St. George’s flagship 12-month rate against the top contenders from aggregator tables. The comparison below uses the latest available data from Canstar, InfoChoice, and Finder.
Four institutions, one pattern: St. George sits in the second tier, 0.10% below the leader but ahead of the other major bank.
| Institution | 12-month rate | Notes |
|---|---|---|
| GMCU | 5.50% | Credit union, member-owned |
| Heartland Bank | 5.45% | New Zealand-owned, APRA regulated |
| St. George (online bonus) | 5.35% | Westpac subsidiary, branch access |
| Judo Bank | 5.35% | Business bank, also open to retail |
| CommBank | 5.25% | Australia’s largest bank, limited time offer |
The implication: St. George is 0.10% below the best rate—on a $50,000 deposit, that’s $50 less interest over a year. In exchange, you get the backing of one of Australia’s most recognisable banking brands and the convenience of online management through the Westpac Group ecosystem.
If $50 is a deciding factor, go with Heartland or GMCU. If you value brand familiarity and an easy online application, St. George’s 5.35% is a strong choice that still outpaces inflation expectations.
What Tools Does St. George Offer to Help Calculate Your Term Deposit Returns?
St. George provides a term deposit calculator on its website that lets you estimate maturity amounts. It’s a straightforward tool—you enter the deposit amount, term length, and interest payment method, and it shows the total interest and final balance (St.George Bank product page).
Using the St. George term deposit calculator
- Visit stgeorge.com.au and navigate to the term deposit page
- Enter the deposit amount (minimum $1,000)
- Choose the term (from 1 month to 5 years)
- Select interest payment: at maturity or monthly
- Read the estimated maturity amount and total interest
Key inputs: amount, term, interest payment
For a $10,000 deposit placed in the 12-month online special at 5.35%, the calculator shows approximately $535 in interest if paid at maturity. If you choose monthly interest, the compounding effect yields slightly less because the rate is nominal. The calculator also adjusts for the 0.10% online bonus automatically when you select the online application option.
The catch: the calculator does not factor in tax or inflation. It’s a pre-tax, nominal figure. For a more realistic picture, multiply the result by your marginal tax rate.
Quick spec comparison across terms
Here’s how St. George’s standard rates stack up across common term lengths.
| Term | Standard rate (at maturity) | Online bonus rate | Effective max |
|---|---|---|---|
| 1 month | 1.40% | No bonus | 1.40% |
| 3 months | 3.25% | No bonus | 3.25% |
| 6 months | 3.40% | No bonus | 3.40% |
| 12 months | 5.25% | +0.10% | 5.35% |
| 24 months | 5.00% | +0.10% | 5.30% |
| 3 years | Not listed | — | Contact bank |
| 5 years | Not listed | — | Contact bank |
Upsides
- Competitive 12-month rate of 5.35% – above most big four banks
- Online bonus adds 0.10% automatically for existing digital customers
- No set-up or monthly fees (St.George Bank product page)
- Government guarantee covers up to $250,000 per account holder (St.George Bank product page)
- Flexible interest payment: monthly or at maturity (St.George Bank official rates page)
- Branch access for those who prefer in-person service
Downsides
- Top rate is 0.10% below the best market rate (5.45% at Heartland)
- Online bonus only for existing customers who bank digitally
- No published senior citizen rate
- Shorter terms (1–6 months) offer well below 5%
- Minimum deposit $1,000 – higher than some competitors ($500)
- Early withdrawal penalties apply (standard terms)
What Industry Sources Say
“The 12-month special offer of 5.25% p.a. plus a 0.10% p.a. online bonus is available from 2026-05-08 for existing personal or business customers opening or renewing term deposits online.”
St.George Bank official rates page
“Our comparison of the best term deposit rates shows that 12-month rates from smaller institutions can reach 5.60%, while major banks like St. George offer around 5.35%. The trade-off is between yield and brand stability.”
InfoChoice independent rate aggregator
“Heartland Bank’s 12-month term deposit rate of 5.45% continues to lead the field in our database, followed by GMCU at 5.50%.”
Canstar Australian finance comparison authority
“The online bonus of 0.10% is applied automatically when you open or renew online—no extra steps required. But you must be an existing St. George customer with internet banking.”
St.George Bank online bonus terms
The editorial consensus: St. George offers a fair rate that beats the big four but trails the best-in-market smaller lenders. For a depositor who values convenience and brand trust, the 0.10% gap is a small premium for peace of mind.
Frequently asked questions
Can I withdraw my St. George term deposit early?
Yes, but early withdrawal penalties apply. The specific penalty depends on the term and current policy. Generally, you lose some or all of the interest earned. Check the terms and conditions on the St. George website before locking in.
How is interest paid on a St. George term deposit?
You can choose to receive interest monthly (paid into your nominated transaction account) or at maturity. The rate is the same either way, but monthly payments simplify cash flow planning.
Is St. George term deposit covered by the government guarantee?
Yes. Balances up to $250,000 per account holder per institution are protected under the Australian Government’s Financial Claims Scheme. This applies to all St. George term deposits (St.George Bank product page).
What is the minimum deposit for a St. George term deposit?
The minimum deposit is $1,000 for standard term deposits. The 12-month online special also requires a minimum of $1,000 and applies up to $2,000,000 (St.George Bank official rates page).
Does St. George offer a notice saver account as an alternative?
St. George does not currently advertise a notice saver product. The alternatives are their online savings account (with variable rate) and term deposits (fixed rate). Compare the two based on your liquidity needs.
Are St. George term deposit rates fixed for the entire term?
Yes. Once you open a term deposit and lock in the rate, it remains fixed for the full term regardless of market changes. This is the key benefit of a term deposit.
How do I open a St. George term deposit online?
If you’re an existing St. George customer with internet banking, log in, navigate to the term deposit section, choose your term and amount, and confirm. New customers need to open a transaction account first, then apply for the term deposit.
Ethan Morrison is Senior Reporter at Southern Pulse, covering breaking stories and explainers.