Effective 24 June 2022, MyState Bank customers can now earn more interest on their savings. For example the interest rate has just increased to 3.35%* on a term deposit over 24 months.
An advantage of interest rates going up is the higher returns which can now be potentially earned on savings accounts.
Fixed interest rates for term deposits provide an attractive option for anyone wanting certainty on their returns without worrying about market fluctuations.
Term deposits come in handy when saving for larger items you want to purchase further down the track like a car, or house deposit – and as a bonus they help you keep your eyes on the prize, and stop any impulse spending or dipping into your savings.
There are many different timeframes to choose from. All MyState Bank term deposits offer competitive rates, with a minimum deposit of $5,000.
If you have a healthy savings buffer, think about transferring those funds into a market leading MyState Bank term deposit.
*Offer available from 24 June 2022 on Term Deposits opened or renewed by personal customers. Available balances from $5,000 to $1,000,000 with interest paid at maturity. Rate subject to change. Interest rate applies to one term only. 31 Days' Notice required for early redemption and interest penalty applies.