Term DepositsA term deposit is an investment where the interest rate is guaranteed not to change for the nominated term, so you'll know exactly what your investment's worth. It is important to choose the term to fit with your other investment plans as the term of the deposit is fixed. Generally with a term deposit there is a minimum amount required to be deposited and interest rates will vary depending on the term and amount invested. With the current interest rate outlook in Australia (interest rates expected to start an award cycle) term deposit interest rates are higher the longer the time period you plan to lock in the investment.
Term deposits should be viewed as an investment decision and as with any investment decision careful thought and consideration needs to be taken prior to making such a decision. TermDeposits.asia does not make any recommendations and the information on the site does not constitute advice. What we aim to do is to display interest rates on a range of term deposit products so that users can see some offers in the market.
Term Deposit Rates
Term Deposits rates in Australia are currently at rates higher than the cost of money. Banks and non banks are fighting for market share and as a result 12 introductory rates have been raising. Some of the banks and non banks offering fantastic rates on their term dopsits are ME Bank, Rabodirect, Macquarie Bank and UBank. For more information on the fantastic rates being offered click here.
Compare Term Deposit Interest Rates
Compare over 80 Australian term deposits from bank ans non bank institutions. Comparison tables cover key product features such as 90 day interest rates all the way through to 5 year interest rates. We also cover minumum deposit amounts required and penalties for early withdrawal. If you are wanting the most comprehensive term deposit comparison tables in the market click here.
Bank Term Deposit Rates
Bank term deposit rates have been on the rise over the past 12 months as the official cash rate has increased. The rapid increase in the cash rate from the RBA has seen short term rates, of less than a year, be higher than the official cash rate. The has been due to the expectation of puture raised in the cash rate has been high. So bank term deposit rates have represented this.
Bank Term Deposits
Bank term deposits have grown in popularity over the past few years mainly due to the uncertanty in both the property and financial markets. People are looking for high interest returns and low risk. The banks are also looking for other forms of obtaining funds due to the funding short fall from GFC. As a result we have seen more and more banks offing high introductory interest rates on their products to enitce prospects into depositing funds and therefore the bank term deposit rates have grown. In some cases these introductory rates have moved higher than the cost of funds.
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