With interest rates at record lows and potentially going even lower next year, high interest savings accounts are anything but “high interest”. It is a similar story for term deposits as well, with the majority of them offering less than 3% per annum.

Because of this I think that investors should look to the share market for their income needs. There are a number of high-quality dividend shares that absolutely smash term deposit rates. Here are three to consider:

Hotel Property Investments Ltd (ASX: HPI)

Hotel Property Investments is the owner of 44 hotel and gaming venues predominantly in Queensland. It boasts 100% occupancy and lease terms that mean rent increases 3.9% per annum. With Wesfarmers Ltd (ASX: WES) (via Coles) as its major tenant leasing 43 of its properties, I believe there is little risk of non-payment. Although it is unfranked, its estimated 7.4% full year dividend still smashes term deposits when adjusted for tax.

Suncorp Group Ltd (ASX: SUN)

Thanks to its new operating model I’m optimistic Suncorp will turn around its faltering performance and return to growth again in the year ahead. Its “One Suncorp” strategy aims to simplify things by giving customers full access to its marketplace and brands, allowing them to select their own solutions based on prior product purchases. With its shares expected to provide a fully franked 6.1% dividend in FY 2017 according to CommSec, it certainly is an appealing option in my opinion.

WAM Capital Limited (ASX: WAM)

Currently WAM Capital’s shares provide a trailing fully franked 6.3% dividend. Considering it has increased its dividend by an average of 8% per year for the last five years, I wouldn’t be surprised to see another increase next year. Especially after such a strong performance this year which saw operating profit before tax increase by an impressive 85.7% to $132.3 million.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.