A while ago I decided to move funds from Bank Of Queensland's term deposit to the bonus interest savings account they offered. I'd watched the bonus interest savings account for some time and the rate offered exceeded the best term deposit rate. Today I checked and the interest rate offered on the bonus interest savings account has fallen below the lowest special term deposit rate.
I've found in the past you need to watch the rates Bank of Queensland offer. With the term deposits I found they'd vary the best rate so if you simply left your money in a 6 month term you could end up with a significantly lower rate. Every time your term deposit comes up you should review the rates for the various terms. Now with the bonus savings rate having dropped so far it is time to review whether or not you should reconsider using the term deposit if like me you've moved to the bonus interest savings account.
I hope this helps others improve their deposit return in this time of quite low rates.
Kelvin Eldridge
Online Connections
www.OnlineConnections.com.au
Call 0415 910 703 for computer support.
Servicing Templestowe, Doncaster, Eltham and the surrounding area.
I've found in the past you need to watch the rates Bank of Queensland offer. With the term deposits I found they'd vary the best rate so if you simply left your money in a 6 month term you could end up with a significantly lower rate. Every time your term deposit comes up you should review the rates for the various terms. Now with the bonus savings rate having dropped so far it is time to review whether or not you should reconsider using the term deposit if like me you've moved to the bonus interest savings account.
I hope this helps others improve their deposit return in this time of quite low rates.
Kelvin Eldridge
Online Connections
www.OnlineConnections.com.au
Call 0415 910 703 for computer support.
Servicing Templestowe, Doncaster, Eltham and the surrounding area.
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