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UBank, Investec & Arab Bank have top TD rates

01/02/2012

Term deposit interest rates have been on the slide for the past six months on expectations of lower interest rates.

Investors looking for a safe place to park their cash may want to move quickly and lock in higher rates before more expected rate cuts in coming months.

For a $50,000 term deposit, UBank’s interest rate of 6.11 per cent is the most competitive over six months. Investec Bank Australia has the best rate of 6 per cent for a three-month term. For three years, the 6 per cent offer from the Arab Bank Australia is best.

Source: The Age



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