Everyone’s talking bond proxies

Q: I keep reading about how I should be looking for bond proxies as a replacement for term deposits and bond funds, now that interest rates are so low. What are bond proxies and are they really going to be…

The top TD rate is now under 2.5 per cent

After two months of term deposit rate adjustments, the average rates for key terms – three, six, nine and 12 months, and three and five years – are now in a narrow band between 1.79 per cent and 1.91 per…

UBank launches green TD

National Australia Bank’s online banking subsidiary UBank has launched what it claims is the first green term deposit, offering savers a deposit product that is matched to a portfolio of renewable energy projects, low carbon transport and green buildings. The…

The search for good deposit rates gets harder

While lenders are putting their mortgage rates up, a number of deposit-takers have cut at-call and term rates over the past month. Consumers can’t win. According to the Mozo Banking Roundup every rate change in the at-call segment of the…

Rate cuts dominate TD market

The term deposit market is turning down, with October the first time in the past eight months that there were more TD rate cuts than increases, comparison site Mozo reports. The top rate for the key one-year term fell 10…

12-month TD rate hits 3 per cent

The top rate for a 12-month term deposit has cracked 3 per cent, after being stuck at 2.8 per cent for months. With rates going up by as much as 44 basis points, it is a good time for savers…

Term deposit competition heats up

Term deposit rates have been on the rise for past few months, as banks seek to avoid rising wholesale funding rates by increasing the proportion of deposits funding their loan books. According to the latest Mozo Banking Roundup, May was…

TD rates rise

There were more term deposit rate increases than decreases in March, only the second month in the past 18 when that has been the case, according to the latest Mozo Banking Roundup. ME leads the market with several of its…

Fintech streamlines TD and fixed income investment

The merger of a trustee company and a fintech has led to the formation of an online one-stop shop for term deposits and other fixed income investments. Trustees Australia, an ASX-listed company that has been involved in a mix of…

ME loses at-call rate leadership

The long-term interest rate leader in the at-call deposit market, ME, has lost its top rating, after cutting the ongoing bonus rate on its Online Savings Account last month. ME was offering 3.05 per cent (a base rate of 1.3…