New Roy Morgan research shows term deposits are still Australia’s favourite way to save. Our Product Manager David Bryde has a great term deposit offer and another great option too.
According to new Roy Morgan Research term deposits are the favourite way for Australians to save.
Almost a third (31.2%) of all savings dollars of Australians aged 14 and over are now held in term deposit accounts. The next largest savings categories are transaction accounts (17.5%) followed by high interest on-line accounts (15.6%).
But there are differences in savings patterns by generation. According to Roy Morgan Pre Boomers and Baby Boomers prefer term deposits while Gen X, Gen Y and Gen Z, prefer transaction accounts.
It's a matter of balancing the need to have access to your money versus the higher returns you can receive by locking your money away for a period of time.
Whether you are a term deposit fan or looking for a high interest at-call account we've got your needs covered at The Greater.
At the moment we have a great Term Deposit offer of 4.4% for a minimum deposit of $5,000 invested for between six and eight months.
The Greater’s Bonus Saver gives you a high interest at-call rate calculated daily and paid monthly(at time of writing 4.3% ) provided you make at least one deposit and no withdrawals.
For help in reaching your savings goals sooner call us on 1300 651 400, call into your local branch or apply online.
How do you like to save and what are you saving for? Please share your thoughts with us below.