Home / News / Term deposit rates at historical highs

Term deposit rates at historical highs

12/03/2010

The average interest rate on the major banks’ new deposits is currently slightly higher than the Reserve Bank of Australia’s official cash rate, compared with about 1.50 per cent below the cash rate before the onset of the global financial crisis.

The average rate on term deposit “specials” is about 140 basis points above the money market rates over equivalent terms. In the year before the crisis it was 60 points below market rates. The average rate on the major banks’ at-call deposits is around 60 basis points below the cash rate, compared to 100 points below in mid 2007.

Source: Banking Day



Previous Article  Next Article



Popular Searches


Today's Best Rates

Institution Product Title Rate (%) Details
eMoney Pro Pack 75 (loans below 75% LVR. Contact us for loans above this LVR) 6.08  
UHomeLoan - Refinance only (6.14%p.a incl 0.20%p.a lifetime Loyalty Discount) 6.14
State Custodians Standard Variable Offset Loan 6.22
IMB Budget Home Loan (No Application Fee) 6.27
MyRate.com.au - Advantage Rate Loan 6.35  
Institution Product Title Rate (%) Details

Rates for a $250,000 standard loan. The 3 year tabs show loans that are fixed for 3 years.



SPONSORED LINKS