What are the best term deposit rates right now?
Savers and investors need to shop around and carefully compare term deposit rates in this current low rate environment. Savers who ‘set and forget’ their term deposits are at risk of being rolled over into lower return products.
The best rate now available, in October 2015, for a one year term deposit is 2.95 per cent. The best six month term rates are 3.20 per cent.
The best rate now available for a five year deposit is 3.5 per cent.