Rates are rising for term deposit investors

Six banks and credit unions increased their term deposit rates in April 2016 by as much as 0.45 percentage points.

Bank of Queensland increased its three-month term deposit rate by 0.35 percentage points to 3.1 per cent and its six-month rate by 0.25 percentage points to 3.15 per cent. Others to increase term deposit rates included Arab Bank Australia, Maitland Mutual Building Society,  CUA, QPCU and ME.

Source: Banking Day