A term deposit is a set amount of money you leave with a lender for an agreed amount of time in return for an agreed amount of interest.
Term deposit rates have been cut substantially by banks over recent months, according to research conducted by RateCity.
Are you thinking about taking out a home loan as an investor or opening a term deposit account? There are pros and cons to both approaches.
Each year Australians look for ways to accrue, save and invest their money, with many turning to term deposits for their investments.
Term deposits are great for the undisciplined saver because you can lock away your savings for a period of time and you won't be tempted to withdraw it. Today we are looking at the benefits of longer-term deposits.
There are many ways to save these days - if you can just avoid the temptation to spend. So what are some of the best long-term savings plans and options?
Many Australians who are seeking to invest their savings consider term deposits as a secure investment option and keep a close eye on blackboard specials - but should they?
^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.