Term deposit savers need to switch

Term deposit expert John Edginton said term deposit rates are “holding up quite well.” Edginton said there is a difference of about 1 per cent between the highest and lowest term deposit rates available.

“Banks will vary their term deposits,” he says “You need to be able to switch quickly or switch between banks.”

“Keep an eye on the maturity date. Seven days out, have a look at what the current rates are.”

Source: Hobart Mercury