Term deposits

A Financial Services Partners Adviser may recommend term deposits as a part of your investment portfolio. They have access to comprehensive and independent research that helps them decide which term deposits are right for you and your investment portfolio.

What are term deposits?

A term deposit is a deposit of money with an Authorised Deposit-taking Institution (ADI), usually a bank or credit union. Your money is held for a fixed period with a rate of interest for the period of the deposit and is annualised if the term is less than 12 months.

The following features can apply:

  • A term deposit usually offers a higher interest rate than an everyday savings account.
  • The period for your term deposit can be as short as three months up to as long as five years.
  • A term deposit is also known as a fixed deposit.

What kind of goals can term deposits be used for?

Term deposits can be used to achieve your short, medium or long-term savings goals. They can provide you with access to regular returns, and the return of your deposit at the end of the term. However, since it is generally considered a low risk investment option, a term deposit might not be the best performing asset over the long term.

Your Financial Services Partners Adviser has access to research that helps them consider which term deposits might be right for you and your investment portfolio, after they consider your needs and objectives.

Talk to us about how term deposits might work for you

If you're ready to see how term deposits can work for you, we can match you with a suitable Financial Services Partners Adviser who will be happy to begin working with you to create a financial plan that's right for you.

To get started, please use our adviser matching service.

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P: 1800 006 216 E: info@fspgroup.com.au

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