Unfortunately for income investors, the Reserve Bank of Australia is expected to take interest rates lower this year.

This is likely to mean that the rates on offer with term deposits will become slender as the year progresses.

But don't worry, because the buy-rated ASX dividend shares listed below are forecast by analysts to offer dividend yields that are superior to what the big banks are offering with their term deposits.

Let's see what they are recommending:

Endeavour Group Ltd (ASX: EDV)

The first ASX dividend share to buy instead of a term deposit could be Endeavour Group.

It is the leader in the Australian alcohol retail market through its Dan Murphy's and BWS brands. In addition, Endeavour Group owns the ALH Hotels business, which has over 350 licensed venues across the country.

The team at Morgan Stanley is positive on the company and is forecasting some attractive yields in the near term. It expects fully franked dividends of 19 cents per share in FY 2025 and then 21 cents per share in FY 2026. Based on the current Endeavour share price of $4.11, this will mean dividend yields of 4.6% and 5.1%, respectively.

Morgan Stanley has an overweight rating and $5.30 price target on its shares.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that could be a great alternative to term deposits is HomeCo Daily Needs REIT.

It is a real estate investment trust with a mandate to invest in convenience-based assets across the target sub-sectors of neighbourhood retail, large format retail and health & services. It counts many blue chips as tenants such as Woolworths Group Ltd (ASX: WOW) and Wesfarmers Ltd (ASX: WES).

Morgans is bullish on the company and believes falling interest rates will be a positive for it and its peers.

As for income, the broker is forecasting dividends per share of 8.6 cents in both FY 2025 and FY 2026. Based on its current share price of $1.28, this would mean dividend yields of 6.7%.

Morgans has an add rating and $1.33 price target on its shares.

IPH Ltd (ASX: IPH)

Finally, IPH could be an ASX dividend share for income investors to consider buying.

It is a leading intellectual property (IP) services company with a global footprint. It operates under a number of names such as AJ Park, Griffith Hack, Pizzeys, ROBIC, Smart & Biggar, and Spruson & Ferguson.

Morgans is also bullish on this name and thinks that its shares are cheap at current levels. It recently highlighted that "IPH's valuation is undemanding (~10.8x FY25F PE), however investor patience is required given the delivery of organic growth looks to be the catalyst for a re-rating."

In respect to dividends, Morgans is forecasting fully franked payouts of 35 cents per share in FY 2025 and then 36 cents per share in FY 2026. Based on the current IPH share price of $4.60, this will mean dividend yields of 7.6% and 7.8%, respectively.

Morgans has an add rating and $6.30 price target on its shares.