great southern bank term deposit interest rates

If you’re looking for a 5 year term deposit, then there are some key features that you might want to check for.

Also, you might not see some or all of the interest you earned, so it’s a good idea to make sure you have more liquid savings that are kept in a high interest savings account that you can dip into.

This is because term deposits come with break fees, so early withdrawals could see you pay hefty bank fees. The second thing you should consider is how likely it is that you’ll need to access that money during the time that it's held in a term deposit. The first thing is interest rates-are they likely to go up or down over the term? This can be difficult to predict but, if you do think it’s more likely up than down, then it might be more lucrative for you to choose a shorter term, like a 2 year term deposit. Of course, no one can predict the future so there are a few things you need to consider before you lock your money away for the long term. So, if you’re investing for the long term, you’ll want to make sure that you are getting a good return on that money, not only today but also in 5 years' time. With a term deposit, you get certainty by locking in an interest rate for a fixed period of time. After that, you can use the money or reinvest it for another term. You can put it away for a set period of time and let the interest pile up. Term deposits can be a safe investment option if you’ve got a lump sum of money that you want to grow.

Great southern bank term deposit interest rates