Australia’s Best Savings Account Provider, the Greater Building Society, has today announced a special term investment (term deposit) rate of 6% p.a for seven months for people investing $200,000 or more.

 

Product Manager David Bryde said the new, very competitive rate is only on offer for a limited time. Mr Bryde said the Greater also had a range of other competitive rates for other deposit amounts and terms.

 

He said, given the volatility of the markets, many people are currently looking for an alternative to shares and managed funds.

 

“Term investments and high interest savings accounts are an alternative to shares and property,” Mr Bryde said.

 

“With the Greater’s rates as high as 6% p.a you can get outstanding returns without the risk,” he said.

 

He said that with the Government Deposit Guarantee recently being made a permanent feature of the financial system, all deposits of up to $250,000 in Australian banks, building societies and credit unions are guaranteed by the Australian Government.

 

“The Government Deposit Guarantee gives people even further peace of mind that their invested money is safe and secure.”

 

Mr Bryde said that while term deposits were attractive to those people able to lock their money away for a specified period of time, other options like the Greater’s Bonus Saver Account were also an option for investing in cash. He said a new article on the
Greater’s blog explains the differences between the two types of accounts.

 

Greater term deposits and Bonus Saver Account can be opened online via the Greater’s website (www.greater.com.au), by calling 1300 651 400 or visiting one of the Greater’s  68 branches. 

 

The Greater was named Australia’s Best Savings Account Provider in the 2011 Mozo People’s Choice Awards as well as Building Society of the Year.