ANZ boosts longer term deposit rates for savers
In a surprise move potentially indicating the bank is preparing for a higher cash rate climate, ANZ has lifted term deposit interest rates attached to its 1, 2 and 3 year terms.
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Term deposit rates leave savers scraping at the bottom of the barrel
Only nine months ago, the average 2 year term deposit rate offered by the big banks was 3.13%, fast forward to present day and for the same term savers are facing a return of just 2.48%.
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Westpac drops term deposit rates by as much as 60bp
Stashing cash in a term deposit with a high interest rate is known for being a safe way to grow funds, however savers may be disappointed to hear that over the last two months a number of banks have reduced the value of their deposit accounts.
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Westpac brings back its special 2.60% short term deposit offer
Westpac has hiked the interest rate attached to one of its short term deposits by 60 basis points, after the same special rate offer only expired around two weeks ago.
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Greater Bank ramps up longer term deposit rates for savers
Greater Bank has raised the interest rates on its longer term deposits by up to 50 basis points, in a move set to give eligible Aussie savers the highest TD returns in the market.
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Term deposit rates continue to go south in February
According to Mozo data, term deposit rate cuts have become the norm after 22 providers reduced rates across a range of terms this month.
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ANZ plumps up longer term deposit interest rates for savers
Always the rate chasers, here at Mozo we are constantly monitoring the term deposit market, so that we can pass on any key changes to Aussies looking to lock away their cash.
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2017 term deposit update: ING Direct and 4 other providers cut rates
Over the last few months of 2016, Mozo reported on a range of providers reducing term deposit rates by up to 0.85%, all despite the Reserve Bank keeping the cash rate on hold.
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Rate cut party over? Major banks quietly slash term deposit interest rates
The lucrative term deposit interest rate hikes of up to 0.85% introduced by Australia’s biggest banks following August’s RBA rate cut have been short lived, as a large number of top rates were reduced last month, according to Mozo data.
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