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James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
I had a Term Deposit with 18 months left to run with Judo Bank at 1.35%. A few weeks ago I asked if I could finish it and start one with the then current rate and the Judo bank said they would increase the rate without terminating the plan and without me losing out by closing it. So I am now on 3.75%.
Thanks Clive, I’m going to check them out. That’s good customer service there.
I have been watching term deposit rates carefully for 3 months awaiting for them to hit 4% for no longer than 2 years. AMP Bank has had the most attractive rates in that time yet have hardly moved since May. Currently 3.85% for 2 years.
I wonder whether it might be better to take out a term deposit for a period of 6 months rather than 2years? If the RBA continues to increase interest rates to dampen inflation, surely term deposit rates will increase too, and then it would be advantageous to lock ina longer term rate?
Well at least Suncorp have passed on at least some of the rate rises, I have a Saver a/c with just over$100000K in it and had just had my bonus monthly interest rise from around $60 to $168.00
The behavior of the Banks is nothing short of theft and politicians should create a policy that has retrospective punishments on banks.
IF a private citizen robbed anyone they are subject to civil law punishments why are banks allowed to commit theft.
Why is the greatest social sickness Greed allowed to operate in a democratic system.