Unimpressed by the stormy investment seas? Don’t put your cash under the mattress - make it work hard for you with a high interest term deposit. After all, where interest is concerned more is more.Read more
After your term deposit period is finished you’ll be able to access your money and the interest you’ve earned. At this point,you could sign up again for another term deposit, transfer the cash into other investments or just spend it and enjoy your interest earnings. Some banks will also give you the option of automatic rollovers so you can continue to receive high interest until you make up your mind. Want more info? Check out our guide, Term Deposit Features.
It sure does! Interest is usually calculated daily, so the sooner that money is yours (ie the more frequently you’re paid) the sooner it can be in your account working hard for you and earning you more interest. Do pay attention to the payment frequency as it can really add up! Spot the difference that payment frequency will make with our term deposit calculator.
It’s really simple to do just like opening a bank account. Once you’ve found the best bank term deposit that best suits your needs simply click the ’go to site’ button and you’ll be guided through an easy online application.
^See information about the Mozo Experts Choice Awards for Term Deposits