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Now is the time to take action on term deposits

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30/07/2012

The time has come for all self-managed superannuation funds and larger private investors to stand up for themselves and negotiate much more vigorously with banks over interest rates.

Make a promise to yourself today that you will not place large sums on term deposits that yield less than 5 per cent. Demand even more for five-year term deposits.

Banks are starting to talk turkey with depositors because events are taking place overseas that threaten to cut off their supplies of cheap funding.

If you have a substantial sum to invest, there is no better time to negotiate a better rate.

Source: The Australian



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