If you have a Fixed Rate Home Loan and have maxed out your extra repayment cap, a term deposit can help you get a head start on extra repayments once your fixed period ends. Simply add your extra savings into a term deposit with the same or similar timeframe as your remaining fixed rate period. Then sit back and relax while your funds earn interest. Once your fixed rate period ends and your term deposit matures, the funds can be added to your home loan in online banking.