Term deposits pay interest in a number of ways: annually, semi-annually, quarterly, monthly, or at maturity (the end of the term). You may want to consider the frequency that you’ll be paid interest on your term deposit. You will usually find that longer terms often come with higher interest rates than shorter terms, but always check with your bank to see what is offered by them. Short-term deposits can be 1-3 months long, while long-term deposits can last many years. There are generally two categories of term deposits: short-term and long-term deposits. It is also important to consider the length of time (the term) that your funds will be locked and unavailable to you.

Bank wholesale funding rates such as bond yields and swap rates.

The factors that influence the day to day interest rates of a Term Deposit include: There are many factors beyond the RBA cash rate that go into determining interest rates on term deposits: Interest is usually expressed as an annual percentage rate (APR or p.a.). This rate will determine how much interest you’ll earn on your deposit over the term of your account.

The fixed interest rate is by far the most important aspect to consider when selecting a term deposit.

What features should I look for in a term deposit? 1.

Bendigo bank term deposits rates