Guide to term deposits

Term deposits involve all the fun of saving and self-denial, with no 'bugger that, I'm going on a splurge' downside. Sign me up for a wild financial ride, you say? Let's just run through some term deposit tips and tricks to get you the best account with the highest savings interest.

What happens to your term deposit if your bank closes?

What happens to your term deposit if your bank closes?

Term deposits are covered under the government’s Financial Claims Scheme (FCS), but what about the interest you’ve been patiently trying to accrue?

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How and when do you pay tax on term deposit interest?

How and when do you pay tax on term deposit interest?

A term deposit is one of the easiest and safest ways to invest your savings. Just lock up some cash for a set period and let the interest do the rest. Since a term deposit is fixed interest, you’ll get a predictable amount for the agreed-upon term even in the event that the RBA changes the cash rate.

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Can you withdraw a term deposit before maturity?

Can you withdraw a term deposit before maturity?

Financial hiccups will often come up, even when you’ve planned everything perfectly. But when you need some extra cash, can you dip into your term deposit before the maturity date?

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Term deposit interest - paid monthly or at maturity?

Term deposit interest - paid monthly or at maturity?

To make the most of your term deposit interest, you’ll want to pick the right option for your savings goal. One way of going about this is by selecting when your term deposit interest rate is paid.

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Your guide to term deposit

Your guide to term deposit

If you’re considering a term deposit as a savings strategy, you probably want to earn high interest for your lump sum savings and invest in a secure and safe manner.

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Term deposit tricks and tips

Term deposit tricks and tips

You’ve done the hard work of saving and squirrelling away every spare dollar, decided a term deposit is the best place to park your money and now you can kick back and forget about it, right? Wrong!

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Long term deposits

Long term deposits

Don’t have a problem going in for the long haul and making a serious commitment? Well then, apply that to your savings strategy with a long term deposit, for a low-risk way to earn a return on your rainy day fund.

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What do you need for a term deposit?

What do you need for a term deposit?

One of the great things about a term deposit is that it’s not only a low risk way to earn a return on your savings, but also a pretty low maintenance one. That doesn’t mean there aren’t some great tricks to making your term deposit work harder for your money - but it does mean that opening a term deposit is a pretty stress-free process.

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Pros and Cons of a term deposit

Pros and Cons of a term deposit

Wondering if you should lock your cash up in a term deposit? While there are a lot of benefits to getting a fixed interest rate on your savings, there are also a few disadvantages to making your savings illiquid.

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Bank term deposits guide

Bank term deposits guide

So you’ve decided a term deposit is the best place for that nice Christmas bonus, or the nest egg you’ve been working on, but now the question is, where do you go to get one? The answer might seem easy - the bank, of course - but there are heaps of options when it comes to choosing where you want to open a term deposit.

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Choosing an investment term: short or long term deposit?

Choosing an investment term: short or long term deposit?

If you’ve picked a term deposit to be your savings strategy, then the next big question is: how long do you want to lock your hard earned cash away?

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Short term deposits

Short term deposits

If you want to commit your money to a term deposit but you’re not quite ready to lock it away for the next few years, then a short term deposit might just be the solution you’re looking for. It's still low-risk and a stable way of earning a return on your savings, but without the commitment of not touching your funds for years on end.

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What are term deposits?

What are term deposits?

Are you looking for a place to stash your cash that will earn you high returns and protect you against rate movements in the market? Then a term deposit could be just for you!

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Term deposit features

Term deposit features

So you’ve decided to lock your funds away in a term deposit to grow. Good for you! By this point, you probably already know what a term deposit is: a stable, long-term savings strategy that can help you maximise the size of your rainy day fund with minimal effort on your part.

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Types of Term Deposits

Types of Term Deposits

Before you make the decision that a term deposit is for you, it’s worth comparing not only the interest rates and deals on offer, but also the type of term deposits available, so you can find one to suit your budget and lifestyle.

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Term deposits vs savings accounts

Term deposits vs savings accounts

It's a question you may have asked yourself a few times: should I get a term deposit or savings account? The real answer is that it really depends on your situation as both have advantages and disadvantages in different areas.

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Term deposit tricks and tips

Term deposit tricks and tips

Here are some tips from the mozo team for getting the best value from your term deposit

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Term deposit news

Stay tuned for updates and exclusives from the front line of the term deposit war.

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