Australian term deposits

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If you're in the market for a term deposit, you'll of course want to ensure you are getting one of the best term deposit in Australia, including the great interest rates, so you can maximise your financial balance.

While there is no such thing as the best term deposit in Australia – because everyone's needs are slightly different – you can find a great term deposit for your situation by comparing interest rates online.

By doing so, you may add tens or even hundreds of dollars to your final balance, so it's really worth hunting around before you fix your lump sum.

Many investors go to the major banks thinking they are getting the best term deposit in Australia. But that may not always be the case.

In early 2011 more Australians turned to smaller financial institutions for some of the best rates on the market. This was because at the time, many of the smaller institutions upped the level of competition in the market by increasing their rates to lure new customers, and the figures revealed that the move was effective.

Easy to compare online

Comparing interest rates online to find the best term deposit for you can be as simple as a few clicks at comparison sites such as RateCity.

All you have to do is visit the compare term deposit page and fill in some details such as the investment amount and the length of the term and you'll be on your way to finding products to suit your situation.

From here you can apply online for Australian term deposits and start saving straight away.

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^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.

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