Term deposits with some of the highest interest rates in Australia are paying little more than the inflation rate, new research has found.
Several institutions have made recent changes to their term deposit rates, including Gateway Bank and Teachers Mutual Bank, as they race to become a market leader in a time of uncertain conditions.
If you’re planning to take out a five-year term deposit, some smaller lenders may offer higher rates than the big four banks, new research has found.
Smaller lenders are offering the highest interest rates for three-month term deposits, new research has found.
Consumers who want to invest $5,000 in a term deposit with a big four bank will currently get the best return with NAB.
Teachers Mutual Bank (TMB) members may be able to start making savings plans for next year, with the announcement of a new term deposit interest rate described as “market-leading” at the time of release.
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