What is a Term Deposit?
A term deposit is a cash investment held at a financial institution such as a bank, building society or credit union. Your money is invested for a fixed amount of time (the term) for an agreed rate of interest.
Advantages of a Term Deposit
- Low Risk
- Low Maintenance
- Fixed Interest protects from market dips
Disadvantages of a Term Deposit
- Your money is not easily accessible
- Less flexibility
- Won't benefit from market rises
With a Self-managed Super Fund (SMSF), you choose how your super is invested. If you want to protect your retirement savings in a low-cost, fixed fee environment, speak to one of the Squirrel team to find out if an SMSF could be suitable for you.