Term Deposit Calculator

How this tool works

Reviewed 6 September 2026. Entered payout and reinvestment assumptions, reviewed 12 September 2026.

Calculation outline

1. Interest paid only at maturity uses simple interest for the entire term. Periodic payouts compound only when the reinvestment option is selected; a last partial period earns simple interest.
2. Annualises total principal and interest over the entered term. Cash payouts are held without further return; this is total-wealth growth, not the internal rate of return of the payout schedule.
3. Estimates early exit penalty deductions based on interest rate reduction tiers (20% to 50%) and standard bank administrative break fees.

Worked example

Example: a $50,000 deposit for 12 months at 4.80% p.a. earns $2,400 at maturity. If broken at month 6 with a 30% penalty rate cut, the rate drops to 3.36%, reducing earned interest to $840 and forfeiting $360.

Limits

• Each bank sets specific early exit fee schedules and interest deduction tiers; breaking early is subject to bank approval.
• Excludes personal tax liability payable on interest income at end-of-year tax returns.

Sources

• ASIC Moneysmart term deposits
• APRA Financial Claims Scheme (FCS)

This tool provides general information and illustrative estimates only. It does not consider your objectives, financial situation or needs and is not personal financial, tax or legal advice.