How long a term deposit is right for me?

Traditionally the most popular term deposits are 12 month terms. Three month and six month terms are also popular for people wanting flexibility.

Two year terms and longer often can deliver higher rates of return and are popular with retirees and savers wanting a regular income stream without much risk.

Often savers hold more than one term deposit and arrange for them to mature (end) at different dates. Term deposit rates vary from week to week so this strategy ensures they can choose from the best rates available at various times.