Banks.com.au - Australian Banking, Finance and Investments

Term Deposits are an investment product that allows you to put your money into an account for a period of time with the interest rate fixed for the term of the contract.

Term Deposits offer a better interest rate on your investment than standard everyday banking accounts but generally lower than other investment options that cater for larger amounts such as cash management accounts.

A Term Deposit earns compounded interest for the length of the contract with the investor having the option to have the interest paid directly into a bank account or be reinvested with the original lump sum deposit.

Please visit the Tools section of our web site to find more information on Term Deposit accounts with leading Australian banks and financial institutions. There are online calculators and interest rates available to give you a guide as to what your savings can possibly earn for you with a term deposit.

There are penalties associated with the early withdrawal of your funds from a Term Deposits account so you need to be sure as to what terms you wish for your investment. Product options can be found within Banks, Australia your number one online resource for finance.