If you have a longer term goal and can resist the temptation of dipping into your funds, consider a term deposit.
Your return and interest rate are fixed with flexible interest payment options available. You can invest a substantial amount, or as little as $1000 with terms ranging from 30 days up to 5 years.
The Australian Government's Financial Claims Scheme (FCS) protects people's deposits in the unlikely event that a bank, building society or credit union fails. It only covers banking institutions that are incorporated in Australia, and has been known as the Australian Government deposit guarantee.
|Terms Available (Min $1,000)||Interest paid on maturity or annually1||Interest paid monthly|
|5 years||0.70% p.a.||0.65% p.a.|
|4 years||0.70% p.a.||0.65% p.a.|
|3 years||0.60% p.a.||0.55% p.a.|
|2 years||0.60% p.a.||0.55% p.a.|
|1 year||0.60% p.a.||0.55% p.a.|
|9 months||0.50% p.a.||0.45% p.a.|
|6 months||0.50% p.a.||0.45% p.a.|
|3 months||0.40% p.a.||0.35% p.a.|