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Long Term Deposits
If you are looking to invest your money somewhere that is safe and secure, without the need to constantly worry about the return of interest, then long term deposits might be your answer. Most long term deposits are tiered which means they offer better interest rates for larger deposit amounts. For example, you might get a better rate if you deposited $50,000 as opposed to $10,000. And RateCity makes this all the more easy to compare - you can enter in the amount of money you would like to deposit and we'll display a list of term deposit offered by hundreds of financial institutions for that particular deposit amount and ranked by the highest interest rates.
Long term deposits are usually featured with higher interest rates than shorter term deposits and that’s because financial institutions want to encourage people to deposit their money for a longer period of time. That way they can in effect make better investments out of your money because they have the almost certain guarantee that you will leave your money in the account for the contracted period.
Compare from the long term term deposit accounts listed in the table above.