Term deposit news and advice

All the latest term deposit news and top tips to help you manage your term deposit.

Could a short term deposit be the cure to comfort spending in winter

Could a short term deposit be the cure to comfort spending in winter?

Comfort spending is all too tempting during the cold winter months, especially when you’re stuck at home during a lockdown. You may not be allowed to go outside, but you can still access the internet right? Before you know it harmless browsing turns into five things in your cart and a big dent in your savings stash. If only there were somewhere to keep your rainy day fund out of reach.

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Term deposits may judo bank stands strong with interest rates above 1

Term deposits May: Judo Bank stands strong with interest rates above 1%

Another month gone, another round of term deposit interest rate changes to report on. In April, Mozo's research team counted at least one cut from 18 different term deposit providers. The average interest rate for a $25,000, 1-year term deposit didn't change much, dropping slightly from 0.53% p.a. to 0.52% p.a.*

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Judo bank scoops up best term deposit award for 2021

Judo Bank scoops up best term deposit award for 2021

In light of the avalanche of rate cuts over the past year, term deposits have become an increasingly attractive option to savers wanting more certainty over their interest earnings.If you’re one such Australian and you’re eager to secure a competitive rate over the next few months or years, Mozo has some exciting news. Today we revealed the best term deposits for this year in the 2021 Mozo Experts Choice Awards. As part of these awards, Mozo’s expert judges analysed 73 term deposits across a range of investment terms from one month up to five years, in order to determine the best of the bunch. Neobank Judo Bank was a standout winner, taking home a Mozo Experts Choice Award for best Term Deposit for the second year in a row. It carries this dual honor alongside customer-owned banks like UniBank, Firefighters Mutual Bank and Teachers Mutual bank.

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