Yes you can still find good term deposit rates

Term deposits are traditionally an important part of many saver’s strategies and often comprise a big part of retiree’s income streams.

Term deposit rates have come down in recent years, along with official interest rates, but savers can still find reasonable rates.

You need to be prepared to shop around, compare products and move your money to a new banking institution in order to grab the best rate available.

Five year term deposits are now paying up to 3.60 per cent. Four year terms are paying up to 3.50 per cent. Even 90 day term deposits are currently paying up to 3.0 per cent.