Term Deposits - Page 3

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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.

The results don’t include every provider in the market and we may not compare all features relevant to you. You can find a description of the initial sort order below the table.You can use the selector to change the term deposit duration. The initial sort order for each term deposit duration is the highest advertised interest rate for a specific term, followed by alphabetically by company name. The interest rates used for the sort order for each duration is as follows: 1 month (for 1- 4 months), 6 months (for 5 - 8 months), 12 months (for 9 - 12 months), 18 months (for 13 - 18 months) and 2 years (for 2 - 5 years). You can use the sort buttons at the top of each column to re-order the display.  Check current rates and product details with the product issuer. The results will show the products that most closely match the inputs in the selector above the table.  If you are unsure about any terms used in the comparison table please refer to the glossary. 

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Canstar is not providing a recommendation for your individual circumstances. It’s important you check product information directly with the provider. Consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the PDS and TMD. For more information, read our Detailed Disclosure. 

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products available for comparison on Canstar’s website. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

Compound interest explained: 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.