Term deposit news and advice

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

Rba cash rate hikes a winner for term deposit holders

RBA cash rate hikes a winner for term deposit holders

With interest rates the highest they've been since 2012, term deposits are back with a roar and proving to be one of the easiest and most secure ways for Aussies to get a decent return on their money.  Yet a large proportion of people (48%) have never heard of them, or if they have, ever considered getting one.A recent Mozo survey* found that only 7% of people are currently a term deposit customer despite the fact that interest rates on term deposits can be almost 4 times higher than the average ongoing non-conditional rate of a savings account, which is currently sitting at a miserly 1.30%^.Peter Marshall, Mozo’s banking expert, says that the idea that term deposits are an outdated savings option is completely false. He points out that many term deposits are less restrictive than high interest savings accounts, are easy to set up and manage 100% online and can be fine-tuned to meet your savings goals.“One of the biggest added benefits of a term deposit is that you are guaranteed a fixed rate of return,” he said. “Savings account rates are variable and while this can work in your favour, there are often a lot of hoops to jump through if you want to get the maximum rate and this isn’t always easy. ” So if you are considering where to park your cash, it might be a good time to reconsider taking out a term deposit. Here are the Mozo money editor’s top picks for this month.

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Lock in christmas savings term deposit 2025

Lock in savings: How term deposits can fund your Christmas gifts in 2025

Saving for Christmas can sometimes feel like a last-minute scramble, but what if you could start now and take all the stress out of gift-giving in 2025? Term deposits are a reliable, under-utilised tool that can help you save effectively and make your money work harder. While they’ve been overshadowed by savings accounts and everyday transaction accounts, term deposits offer unique advantages for goal-specific savings like your festive spending.

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Articles

6 Clever ways to maximise your tax refund

Tax time is upon us, and for many Aussies, it's an opportunity to make the most of the money coming back to you. Whether you’re receiving a sizable chunk or just a modest return, there are clever and easy ways to maximise your tax refund and set yourself up for financial success.

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Are shorter term deposits worth a look right now

Are shorter term deposits worth a look right now?

Term deposits have reached some great levels in recent months. But, while it can be tempting to lock your savings away for some time, it’s possible that you can miss out on some rates that are actually highest in the short term.

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