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The window to make decent money on term deposits is fast closing

Banks have already started cutting interest rates anticipating the Reserve Bank’s next move, but there are still reasonable deals to be found.

Michelle Bowes
Michelle BowesWealth reporter
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With consensus solidifying that the Reserve Bank of Australia’s next change to the cash rate will be down, banks have reacted by cutting the interest rates they pay to savers on term deposits.

Canstar data insights director Sally Tindall says term deposit rates are based on a range of factors.

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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
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    Original URL: https://www.afr.com/wealth/personal-finance/the-window-to-make-decent-money-on-term-deposits-is-fast-closing-20240822-p5k4k3