BANKING  |  FRIENDS WITH MONEY PODCAST

Friends With Money #271: Are term deposits back?

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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.

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?

Episode timestamps

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

Friends With Money podcast FAQ

What is the Friends With Money podcast?

Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.

Where can I listen to the podcast?

You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).

Who hosts Friends With Money?

Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.

Is the podcast suitable for beginners?

Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.

What topics does the podcast cover?

The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.

How often are new episodes released?

New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.

Can I watch episodes with captions?

Yes, full episodes with closed captions are available on YouTube.

Why subscribe to the Friends With Money podcast?

Boost your financial literacy anytime, anywhere with the Friends With Money podcast from Money magazine. Whether you're commuting, working out, or relaxing at home, this weekly podcast makes it easy to grow your money knowledge on the go.

Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.

Subscribe to the Friends With Money podcast today and start learning when it suits you.

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Tom Watson is a senior journalist at Money magazine, and one of the hosts of the Friends With Money podcast. He's previously worked as a journalist covering everything from property and consumer banking to financial technology. Tom has a Bachelor of Communication (Journalism) from the University of Technology, Sydney. Connect with Tom Watson on LinkedIn.

Olivia McArdle is the head of payments and deposits at Macquarie Bank. She oversees offerings in transaction and savings accounts, cash management accounts, term deposits and payments systems used by households and businesses across Australia. Olivia has more than three decades of experience in banking and tax advisory. She holds a Bachelor of Commerce in Accounting and Law from Western Sydney University and is qualified as a Chartered Accountant. Olivia holds an MBA from AGSM at the UNSW Business School, graduated from the Australian Institute of Company Directors in 2018, and completed the Executive Program in Strategy and Organisation at the Stanford Graduate School of Business in 2019. Connect with Olivia on LinkedIn.