Term Deposits

In some situations, term deposits can be a safe and reliable way to grow wealth over a pre-determined period of time, as they are designed to guarantee you a set rate of interest earnings on your...

Commonwealth Bank made cuts of up to 0.20 percentage points to a range of smaller terms, effective today, but its 11-month deposit rate escaped the cuts and instead grew by 0.05 percentage points for balances over...

The Reserve Bank of Australia board met today for its usual monthly monetary policy meeting, where it also now considers how it could further support the economy during the financial fallout of the coronavirus pandemic. The...

National Australia Bank made a 0.25 percentage point cut to the interest rates on its Reward Saver account as well as its Retirement Account for balances above $50,000, effective from today. This time last week, NAB...

The cash rate will remain on hold at the historic low of 0.25% and unconventional monetary policy measures announced in March – such as buying government bonds – will remain in place to help support jobs,...

The Reserve Bank of Australia’s (RBA) latest rate cut (on 19 March, 2020) was the nation’s first out-of-cycle reduction since 1997, leaving the official cash rate at an all-time low of 0.25%. The move comes just...

The effect of falling savings rates on Aussie nest eggs is clear, with Canstar analysis showing some online savings accounts are now paying less than $10 in interest over a year. Many banks have reduced home...

While the RBA’s rate cuts have led to reductions in home loan interest rates that have benefited a number of home-buyers in Australia, in many cases it is savers who have taken a hit instead. Since back-to-back...

  The government announced the lower deeming rate would drop from 1.75% to 1.00%, while the upper deeming rate would be cut from 3.25% to 3.00%. According to the Morrison government, the $600 million change is...

Opinion: Steve Mickenbecker, Group Executive Financial Services, Canstar The history speaks for itself, but it seems that it has been forgotten. Deeming rates were introduced in 1991 for the purpose of assessing the income means test for...