Can I negotiate a fixed term deposit rate with the bank?


Nick Bendel

Nick Bendel

Dec 11, 2017( 1 min read )

“Can I negotiate a fixed term deposit rate with the bank?” you may be wondering.

Many banks welcome negotiation when it comes to term deposit rates, especially with deposits of over $100,000. Even if your deposit is lower than $100,000, it may be worth a discussion with your bank.

Negotiating with your bank could secure you a higher fixed rate, which will earn you extra interest over your term. You may also discover bonuses or special offers you can acquire through your bank.

Securing the highest interest rate possible is the key to making the most of your term deposit. You may have compared deposits online or discussed your options with a financial adviser, but you also might be wondering about negotiation in order to get a better rate.


Related FAQs

Some lenders will make you pay a penalty, or early termination fee, if you pay off your loan ahead of schedule. This is to compensate them for the interest payments they don’t get to collect.

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