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Short Term Deposits

Short Term Deposits

Term deposits are among the most secure investment option available. Read on for some helpful advice.

Term deposits
A term deposit is a money deposit held at a bank or financial institution that has a fixed term. Money cannot be withdrawn from the deposit for the term or period of time specified. When the term expires it can be withdrawn or held for another term. In general the longer the term the higher the interest rate you earn. However the interest rates on shorter terms are also quite generous.

Short term deposits
Short term deposits are an investment option for those who wish to deposit their money for up to 12 months. They are secure and practical options for individuals who have set savings goals. Short term deposits are most popular among low risk investors who want a quick return on their money without having to commit to a longer term. Common terms are for 30 days, 60 days (2 months), 90 days (3 months), 120 days (4 months), 180 days (6 months) and 12 months.

Shop around
With term deposits it is often worthwhile shopping around to get the best rate available. It is recommended to check out as many banks and financial institutions as possible and comparing the rates they offer over the various terms.

  1. Graham Kalms08-12-2010 11:59:37

    I have a problem with veda advantage as they refuse overturn their decision and they don't owe to me and i don't owe them so how can I borrow without Veda advantage approve so I do need to find $8,000 very urgently and I have less than1 week left to find.

  2. AusomeFinance30-11-2010 17:20:39

    Hi Rhonda, if you are a homeowner you shouldn't have any problem getting a loan for $4000. It is generally harder to get an unsecured loan once you are retired - but because you have a regular pension you may be eligible. Call into your bank for free advice.

  3. rhonda.boodle27-11-2010 12:15:29

    iam righting to ask if there is a loan place i can go because i need 4000 to pay my bills off. so i can just have one bill to pay each month.i dont work anymore i have retried. and i am on a pension and i get 500 a fortnite. iam fineing it very hard ti get by. thank u for your time rhonda

  4. Joanne Cunningham19-11-2010 16:25:20

    That's great advice, thanks!

  5. Natasha Ollenburg18-11-2010 11:16:19

    i think this site is awesome, especially trying to help out people in hardships, whom have bad credit history or whom have no credit history at all. hopefully I will be lucky enough to get approved for a loan during my hard time...time will tell if these sites are what they say they are!

  6. Sarah11-11-2010 12:39:23

    I'm in a similar situation Jodie. I managed to get a 2000 loan but it has helped a lot. Make an appontment to talk to your bank. Good luck!

  7. jodie09-11-2010 14:44:22

    hi im bankrupt for second time have 2 causal cleaning jobs one iv held for 12 month second job i started 2 months ago i work 5 days wk at this job 25hrs.other job gives me anywere from 12 to 40 hours awk im a single mother of three children paying 250wk rent had a run of bad luck car stolen and burnt out. 8 days later house was broken into while we were sleeping. bank account has been emptied by a so called friend im struggling now need $4000 loan to retreve our things from pawn brooker catch rent up pay tele check before im charged with froud and to pay for xmas

  8. Penny09-11-2010 10:16:48

    I totally agree with these tips! I use them all the time

  9. Payday Loan26-10-2010 19:02:07

    I really like this blog, it gives interesting ideas for the reader. Keep it up!

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