AMP offers rebates on term deposits

Banks and lenders are increasingly keen to promote their term deposits and this means there are plenty of great deals for Aussies to mull over.

The latest organisation to offer incentives to new customers is AMP, which has pledged to issue a rebate on administration fees.

Bosses at the firm have confirmed that clients who take out a new North deposit or roll over a maturing product between August 1st and December 31st will receive the perk.

"In the current environment an allocation to cash is an attractive option for some clients to help them achieve their long-term savings goals," commented AMP's director of platforms Steve Burgess.

A lot of banks have been attempting to entice new customers by either keeping interest rates at their current level or hiking them slightly.

Speaking to Money Management recently, investments manager at RaboDirect Australia and New Zealand Tim Hewson said that younger people are now taking on term deposits in greater numbers.

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