Savers can still get over 5 per cent

In a low interest rate environment, savers should go for a cocktail of terms so you still have some flexibility.

ME Bank is paying 5.10 per cent for 12 months. The only catch is that you also have to link it to a transaction account that doesn't pay interest, though at least there's no fee, either.

The safest bet is keeping some as online cash, and fixing for a few different terms up to two years, which seems to be the sweet spot for term deposits.

Source: Sydney Morning Herald