CUA offers term deposit special

Those looking for somewhere to put their money away could do worse than check the rates being offered by Credit Union Australia at the moment.

For periods of over six months, Credit Union Australia are offering very competitive terms. For amounts under $10,000, six months will earn you 4.50 per cent and a period of seven to eleven months earns 5 per cent.

But it's the rate for amounts over $10,000 that really look attractive. A six month term will earn you 4.80 per cent, seven to eight months earns 5.15 per cent and nine to eleven months attracts a rate of 5.25 per cent. Putting your money away for over a year will get you 5 per cent per annum.

When you consider the current cash rate from the Reserve Bank is 4.75 per cent, you will be hard pressed to find a better deal around at the moment.