If you’ve got long term goals (like buying a house) and you’re starting to accumulate some serious cash, a two year high interest earning term deposit can help you grow your savings faster and keep your nest egg safely out of temptations reach.Read more
Think carefully before pulling your money out of a term deposit prematurely and subjecting yourself to term deposit ’break fees’ they could cost you between 40% and all of your interest earnings. Don’t do it unless it’s a real emergency. Before you lock in a two year term, check out popular rates for 1 year and 6 month term deposits.
Absolutely! Generally, being paid more frequently is better, as once the interest is yours you can then earn interest on that interest (this is called compounding interest.) The more frequently your interest is paid, the faster it will grow. Let us do the math for you with our handy term deposit calculator.
^See information about the Mozo Experts Choice Term deposits Awards
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^See information about the Mozo Experts Choice Savings accounts Awards