Term deposit rates are pretty low at the moment, but that doesn’t mean you can’t snap up a better rate for yourself. Savings has collated some of the highest term deposit rates available this month for a variety of term lengths.
Term deposits are often seen as a stable option for people to store their money in, but with interest rates as low as they are these days, locking away your cash in a term deposit is unlikely to generate much of a return.
While term deposit interest rates are fixed over the course of your term, banks can still change the rates they offer on new deposits and rollovers. Understand the internal and external factors that influence these movements.
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