Where to put your savings in 2020
2020 isn’t shaping up to be a great year for Aussie savers. Plummeting rates have left savings accounts across the board looking worse for wear, and term deposits haven’t been spared all that much either.
Term deposits in August: Rates drop but are there still perks?
If you were hoping for a dramatic change in term deposits, then you’ll be sorely disappointed. Around 70 of the 86 financial providers Mozo tracks dropped interest rates in July and our experts predict cuts will continue throughout August. What you might be surprised to hear is that even after all that, there are still perks to locking your money away in a term.
Judo Bank tops three and six month term deposits
With MOVE Bank cutting interest rates by as much as 40 basis points today, term deposits have once again been shaken up.
July term deposits snapshot: Rates above 2% a thing of the past as banks continue to make cuts
Term deposit rates at or above 2% are officially a thing of the past according to Mozo data*.
How to spend your Qantas refund wisely
Following pressure from the Australian Competition and Consumer Commission’s Covid-19 Taskforce (ACCC), Qantas made the decision late last week to refund passengers whose flights had been cancelled due to travel restrictions.
Term deposit snapshot May: Qudos Bank dominates shorter terms
Term deposits certainly didn’t stand still in May with Mozo counting a whopping 500 individual interest rate cuts from 60 different banks and credit unions*.
Big four term deposit rates continue downward spiral
Australian savers hardly need reminding of the steady fall in term deposit and savings account rates in recent years - a trend accelerated by five Reserve Bank cuts to the official cash rate in 12 months.
UBank lifts key term deposit rate, joins Judo Bank and Rabobank in making wider cuts
A number of term deposits with rates towards the higher end of the market have been tweaked in recent days, including offers from Judo Bank, Rabobank and UBank.
Term deposits April snapshot: Judo Bank leads the way
If you were following term deposit rates in April, then your head is probably in a bit of a spin.
Qudos Bank ups term deposit rates, eases economic pressure
Kudos go to Qudos Bank this morning, as it increases three to twelve month term deposit rates amidst the COVID-19 crisis.