Term deposits offering high yields

Term deposits are not just a safe haven for your cash, but with the very high interest rates now on offer for locking your cash away for a set period of time, they are an investment with high yields. The top one year term deposit rate is now 6.5 per cent per annum.

Over the last 18 months, official interest rates set by the RBA have climbed 1.5 per cent while one year term deposit rates have climbed 3 per cent. Investors using advisor ‘platforms’ to spread and manage their investments are choosing to put about 25 per cent of their funds into term deposits according to a spokesperson for Aviva.

Source: The Australian