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Can you end a term deposit early? What you need to know
Even with a solid savings plan, life can throw unexpected expenses your way. If your money is tied up in a term deposit, you might be wondering whether you can access it before it matures.
How and when do you pay tax on term deposit interest?
Earning interest on your savings can be rewarding, but it also comes with tax responsibilities. If you’re thinking about a term deposit, it’s worth understanding how tax affects the interest you’ll earn. Here’s what you need to know about paying tax on term deposit interest.
Pros and cons of a term deposit
Considering a term deposit for your money? While these accounts can provide stability with a fixed interest rate, they also have some limitations. To understand term deposits and see if they fit your needs, it's important to have the complete picture of advantages and disadvantages.
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What happens to your term deposit if your bank closes?
It’s not very likely to happen, but what happens to your term deposit if your bank fails or closes?
What are term deposits?
Looking for a secure way to grow your savings beyond a standard savings account? Term deposits offer a dependable option that lets you lock away your money for an agreed period in exchange for a guaranteed return. This comprehensive guide will help you understand how term deposits work and whether they're the right choice for your financial goals.
Term deposit interest - paid monthly or at maturity?
Choosing the right interest payment schedule for your term deposit can significantly impact your savings strategy. Term deposit providers usually offer options, including monthly payments, annual payouts, or a lump sum at maturity. Understanding which of these choices is important as they can affect the total interest earned.
Types of Term Deposits
Before you decide that a term deposit is for you, it's worth thinking about what kind of account you want to keep your funds in. Whether you're a short-term saver or in it for the long haul, there's likely to be a term deposit option that fits your needs.
Term deposit news
Stay tuned for updates and exclusives from the front line of the term deposit war.
Judo Bank: the bank you’ve never heard of that’s hitting term deposits out of the park
Judo Bank may not have the legacy of the major banks, but it’s become a standout in the term deposit market. Despite its smaller size, the bank delivers consistently high rates – often placing in the top five providers tracked in Mozo’s database.
Judo Bank vs CommBank Term Deposits
Australia’s biggest bank and one of its smallest challengers may seem worlds apart, but both have term deposits designed to give savers certainty. While Judo Bank leans on sharp rates and a low entry point, CommBank offers the weight of a household name and more options at maturity. Here’s how their term deposits stack up.
Term deposits: Why timing your move before the November RBA decision could pay off
The clock’s ticking for savers. With the Reserve Bank of Australia’s (RBA) next decision just around the corner, one question looms large: should you lock in a term deposit rate now, or wait to see what happens next?
Lock in business term deposit rates before potential RBA cuts
Businesses looking to secure strong returns on their cash reserves may want to act sooner rather than later. The Reserve Bank of Australia (RBA) has held the cash rate steady at 3.60% since August, but economists are anticipating at least one more rate cut in the coming months.