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What is a term deposit?

A term deposit is a fixed rate, fixed term investment - which means you lock your money away for a predetermined amount of time, to earn a predetermined amount of interest.

What is a short term deposit?

A short term deposit generally lasts anywhere from 1 to 12 months. Usually, the terms on offer go up by months at a time: choose 2 months, 3 months, 4 months and so on.

What is a long term deposit?

A long term deposit can last up to 10 years. Long term deposits tend to increase yearly so you might lock your money in for 2, 3, 4 years, etc. Terms up to 5 years are the most common.

What is the difference between long and short term deposits?

Mainly, it’s the length of time you’ll have to lock your funds away for. But there are a few other key differences that might affect which investment term is best for you. Get our FREE guide for a side-by-side comparison. 

What do short& long term deposits have in common?

Although there are key differences between long and short term deposits, there are  some features which are the same and universal to all term deposit offers including a fixed interest rate, early withdrawal fees & minimum balance. Request our FREE guide to learn what can make a differenc to your investment plans. 

Which will earn me more interest?

A longer investment term usually means more interest because your capital has time to grow. But there are other things, that can impact your earnings potential, including the deposit balance & interest payment frequency.

To crunch the numbers and see what effect different terms, deposit amounts and interest payment frequencies will have on your savings request your FREE guide today. 

What are Rollover terms?

If you forget to tell your bank what to do with your money when your term deposit matures, your money can be automatically rolled over and reinvested for a new term – which often comes with rock bottom interest rates. So it pays to have an exit plan before your term deposit matures. Request our FREE guide today and learn how you can avoid these pitfalls and how to plan a profitable exit strategy. 

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