ING Direct launches ‘pick-a-date’ option for term deposits
ING Direct has launched a new option for its term deposits, allowing customers to pick a date for the maturity of their investments at any time online.
New and existing customers can choose a maturity date between 30 and 365 days with the option to receive the interest earned at the end of the term and renew the original term deposit amount.
The innovation came as recent Canstar Cannex research found the personal term deposit market had grown by 112 per cent since 2007 — a growth of $114 billion. It currently makes up around 44 per cent of the personal deposit market.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
