Mozo highlights best savings packages

Aussies who are in a pickle over whether to lump their money into savings accounts or term deposits have been issued a helping hand by Mozo.

The company has rolled back the years to launch a unique infographic, which utilises an adventure map that will have many people reminiscing about their childhood.

However, instead of the paths leading to treasure or a perilous demise as they did in many children's books, the system allows web surfers to decide which financial products would best suit their needs.

With the possibility of a double rate cut next month and term deposit rates already tumbling, it could be an ideal time for people to reassess their savings.

A number of factors – such as mortgages, ease of access and deposit sizes – are highlighted in the map, which eventually leads users to the best individual savings scenarios for them.

Last week, economists predicted that increases in unemployment and more people putting money into funds could lead to the Reserve Bank of Australia cutting interest rates by up to 25 basis points in the next few months.

Have a question about term deposits? Ask the money gurus at Mozo AnswersADNFCR-1761-ID-800699862-ADNFCR