Teachers Credit Union offer top term deposit rates

As of today, Teachers Credit Union is offering what it believes to be the one of the highest term deposit rates currently available on the market – at 5.50%pa - for sums of $50,000 or more for a period of 7 months to just under 9 months.

The new rate for the sum and period represents an increase of 50 basis points on the previously offered term deposit rate. In contrast, Teachers Credit Union has raised its variable home loan rate by just 25 basis points in line with the recent RBA November rate rise.

“With markets beginning to recover, many people are still cautious about wading back in. This rate and timeframe gives them a top rate for their money till they feel confident about equities or other forms of investment again,” said Steve James, Chief Executive of Teachers Credit Union.

Competitive rates ranging from 4.57%pa to 6.65%pa are available for term deposits of differing amounts and periods.

Teachers Credit Union’s term deposits are available to anyone.

Media Enquiries:

Gillian Tatt
Senior PR Officer
Email - gtatt@teacherscreditunion.com.au
Ph: (02) 9735 9825
Mob: 0448 259 942