What are the average term deposit rates right now?

Financial comparison website InfoChoice reports that a 12 month, $10,000 term deposit now attracts an average interest rate of 2.63 per cent. That equals $263 in interest.

Average two year term deposit rates are now 2.7 per cent, giving a $540 return on a $10,000 deposit over two years.

There are plenty of term deposits now paying more than these average rates. If you want to get more back from your term deposit, compare deals today at Infochoice.

Source: The Daily Telegraph