100k Term Deposit Interest Rates

Compound Interest

Interest earned on an initial amount of money invested as well as on the accumulated interest. Interest can be compounded at different frequencies such as monthly, semi-annually, annually etc. The compound frequency, the number of compounding periods and the interest rate will determine the amount of interest earned.

Example: If you invest $10,000 for 5 years, at 3% interest compounded monthly, you would earn $1,616. Then by adding it to the initial investment amount, you would have a total of $11,616 by the end of the 5 year term.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.