Term deposit calculator 2026 — Australia: interest and the $250,000 guarantee

The Australian Government's Financial Claims Scheme (FCS), administered by APRA, protects deposits up to A$250,000 per account holder at each authorised bank, building society or credit union incorporated in Australia.

Example for the default values — change any field and the result updates.

Final amount11,047 AUD
Interest earned1,047 AUD
Covered by the deposit guarantee11,047 AUD
Not covered (above the limit)0 AUD

The result is an estimate, not financial or legal advice. Check the exact terms with the company.

Verified companies: Banks · Australia

  1. 1Westpac96/100
  2. 2Bendigo Bank96/100
  3. 3CommBank93/100
  4. 4NAB93/100
  5. 5ANZ91/100

See the full ranking

How it is calculated

Interest is calculated monthly at the annual rate ÷ 12. With monthly capitalization it is added to the balance and earns interest itself: final amount = amount × (1 + r)^n, where r is the monthly rate and n the number of months. Without capitalization interest is charged on the principal only and paid out: interest = amount × r × n.

A top-up is added at the end of every month except the last and earns interest from the next month. Interest earned = final amount − the deposit − all top-ups.

The insured amount is the part of the final amount (principal plus interest) within the guarantee limit per depositor and bank; the rest is uninsured. The limit applies to all your accounts in one bank together, so add up your other balances there. Taxes on interest and the bank's own day-count rules are not included.

Frequently asked questions

How much does the Financial Claims Scheme protect?

Up to A$250,000 per account holder per authorised deposit-taking institution.

Sources