What is the average term deposit rate right now?

Banks and credit unions regularly change their term deposit rates and the Australian Securities and Exchange Commission has warned consumers to be alert to changed rates when term deposits come up for rollover.

Right now, the average 90-day term deposit rate is 2.38 per cent on a $50,000 balance. There are big differences between institutions. Smart term deposit savers need to regularly check market rates.

Source: Herald Sun