Unfortunately, Term Deposits are a poor investment option as cash rates are so very low. At least my TDs pay above the cash rate but I am penalised for having been a saver and wanting liquidity without all the hassle of trading shares and other time consuming paperwork. Term deposits are a means of maintaining liquidity for unforeseen events or for buying into reasonable aged care if or when it is required. The financial institution I use has excellent staff, offer other products and services, are professional, patient, friendly and above all trustworthy. As a self funded retiree the returns do not keep pace with inflation and savings are "penalised" by Centrelink which currently "deems" savings at 2.5% and 3% above a certain limit. Financial advisers suggest putting one's savings into bank shares as the dividends are so much better but the bank profits are obscene.
The best service and help in managing a tight time
Amazing service at Teacher Mutual Bank. Committed to helping teachers. They helped me when none other would many years ago and I have never looked back. Our regional head supports actively a Positive Behaviour For Learning framework which now operates I many Hunter schools, most successfully. This is very impressive.
The Teachers' Mutual Bank usually offers higher interest rates than their competitors on fixed deposits. It is a pleasure to do business with them when this is combined with their convenience and friendly, reliable service.
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