While a high cash rate can mean pain for mortgage holders, it also usually means it’s a great time to be a saver. As the RBA have raised rates, returns on term deposits and savings accounts have swollen to the highest since 2015.
While your earning ceiling is probably higher if you invest in shares or the property market, the advantage of term deposits is they are largely risk free, with a guaranteed income. If you were to lock in a three-year term deposit in July 2023, the bank will honour those rates even if we see a dramatic drop […]
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