A term deposit is a low-touch method of saving. An advantage of locking your money into a term deposit is that you get a guaranteed interest rate and therefore, predictable returns. However, bear in mind if you need to access your money before the term ends, you will need to provide 31 days’ notice of early withdrawal, and may have to pay an early payout fee and an interest rate adjustment may apply. Learn more about term deposits and how you can benefit from one.