Reckon points to booming term deposit market

The growth of term deposit accounts in Australia since the global financial crisis "has been remarkable", Reckon, the wealth management solutions provider, has said.

Announcing the release of its latest Quicken software which includes tools to manage term deposit accounts, Reckon pointed to the fact that Australians have doubled their investment in term deposits over the last five years.

"While costs and flexibility may previously have concerned consumers, the bank interest rate offers are now seemingly more appealing to those looking for investment options with known returns and lower risk," said Reckon's general manager for marketing Gerald Chait.

The new Quicken range is due in shops from Monday (November 1st) starting at $89 RRP for Quicken Personal.

Reckon stated that the new Quicken term deposit tool will allow users to input the initial deposit amount and the time remaining until the account matures. An alert notifies users when the account reaches maturity.

It also announced the expansion of investment analysis tools in the Quicken 2011 range, including HUBB Investor software aimed at encouraging investors to compare term deposits, analyse stocks and recognise investment opportunities.

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