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Frequently Asked Questions
What is a term deposit?
Unlike a savings account, a term deposit is where you lock away an amount of money for a set period of time (the ‘term’). This means you can’t access that money until the term is up. The benefit of this is that you’ll earn a guaranteed rate of interest for your selected term.
How much interest can I earn with a term deposit?
The amount of interest you’ll earn from a term deposit will vary depending on interest rates, which lender you’re going through, the investment term and deposit amount.
What is a savings account?
A savings account is an account used specifically for saving money. Generally interest is paid on the money in the account while still giving access to the savings when needed. Depending on your lender, your savings accounts may also pay bonus interest when certain conditions are met, such as growing the account balance by the end of the month. These accounts usually have a variable rate, so the amount of interest payable is likely to change over time.
Why Choose Inovayt
Simple
Finding the right financing to match your needs and goals is never an easy task. Our team prides themselves on finding the right solution for each client, regardless of their personal situation.
Flexible
Our brokers work hand in hand with our clients, to ensure they receive the best possible outcome. We are available to chat face to face, online, or via phone, at a time that suits you.
Solutions-driven
Our focus is always about achieve the best possible outcomes for our clients. We will tackle any hurdles that may come up, to ensure that you are satisfied and have achieved your desired outcome.
