Episode 271

full
Published on:

2nd Sep 2026

Are term deposits back?

With interest rates near their highest levels in years, many savers will be taking a fresh look at term deposits. But are they the right home for your cash?

On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Olivia McArdle, head of deposits and payments at Macquarie Bank, to unpack everything savers need to know about term deposits.

00:00 Introduction

01:25 Term deposits versus savings accounts

04:10 Are higher rates making term deposits more attractive?

05:50 How banks determine term deposit rates

08:15 Common mistakes savers make with term deposits

10:50 Can you access your money early?

13:10 Term deposits and the Financial Claims Scheme

14:20 Conclusion

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About the Podcast

Friends With Money
Earn. Save. Invest.
We all have questions about money; how to earn it, how to spend it, and the best ways to invest so we can watch it grow.

The Friends With Money podcast, created by Money Magazine (Australia’s longest-running and most-read personal finance magazine), shares its extensive network of finance experts, in-depth knowledge of markets and timely advice to help you understand the world of money.

Hosted by senior writer, Tom Watson, Managing Editor, Vanessa Walker and editor-in-chief, Michelle Baltazar, Friends With Money is a weekly chat with a variety of credentialed guests that you won’t want to miss. Listening and learning will help you on the path to financial freedom.