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If you like the idea of a steady, reliable way to grow your savings, have a look at our Term Deposits. Lock in a competitive interest rate for a fixed term – anywhere from 30 days to five years.
A PIE Term Deposit could have tax advantages for you. Usually you’d pay your regular income tax on interest earned on term deposits, which could be up to 33%. With a PIE, the maximum tax you’ll pay on the return you earn is 28%. Returns are payable at maturity.
For terms longer than a year, you can choose to have your interest paid out as a lump sum at the end of your term or paid monthly, quarterly, six-monthly or annually into your bank account. A great way to generate regular income from your investment.
Interest rates are subject to change. The above rates are valid for investments of $10,000 to $5 million. If you're investing more than $5 million, please contact us for rates.
A Term Deposit offers a fixed return for a set period. However you should consider if you’ll need your money before the maturity date as break penalties may apply. If you think you'll need the money early, one of our savings accounts may be more suitable.
It works the same as a standard Term Deposit, but it could have tax advantages for you. Usually you’d pay your regular income tax on interest earned on savings accounts, which could be up to 33%. With a PIE, the maximum tax you’ll pay on the returns you earn is 28% – meaning you could keep more of your return in your pocket.