Are you ‘laddering’ your term deposits?
Rates on term deposits are now around the three to five per cent range. Banks and other term deposit providers change their rates regularly and often have ‘blackboard specials’ – good rates for a limited available for a short time.
Savers can use "laddering" to maximise their returns while maintaining some flexibility to capture good rates when they arise.
That means not putting all your savings into one term deposit but having a number of different term deposits with different maturity dates – so you aren’t locking your money away if rates rise, potentially missing out on big returns.
Source: Herald Sun