Investors like term deposits
The big four banks now hold almost one trillion dollars on deposit, up 11.9 per cent from a year ago. In contrast to the dramas of shares, term deposits and savings accounts have attracted, and delivered, for investors in a big way over the last couple of years. Over the last three years, the average return from big bank one-year term deposits has been 5.6 per cent. Some people have done better, grabbing rates up to 8 per cent that have been offered as blackboard specials through bank branches from time to time recently.
Source: Herald Sun