Term deposits are NOT boring …
OK you have some savings and you want to make some investments right? You’re looking at all the different shares, schemes and managed funds and then your Nana says: “Put it in a term deposit.”
Sometimes Nana knows best. Term deposits with an Australian bank or credit union are safe – government guaranteed up to $250,000 – and they pay a reasonable rate of return that is well above the rate of inflation.
You might be attracted to the bright lights and glamour of some other risky investments or you could take Nana’s advice and shop around for a good term deposit today.