Fixed income broker FIIG Securities has launched a series of online term deposit indices as a benchmark for cash investors.
termdeposit.com.au offers the Australian Term Deposit Index, Australian Term Deposit Accumulation Index, All Maturities Term Deposit Index, and the All Maturities Term Deposit Accumulation Index.
FIIG Securities head of research Justin McCarthy said the portal helps investors find the best term deposit rate from over 40 term deposit providers and allows them to then invest directly in their chosen provider.
“Up until now, investors have mostly relied on the advertising campaigns of the major term deposit providers to assess whether they are getting the best cash rate.
“As billions of dollars flow into safe haven investments, these indices provide an easy point of comparison across a wide rage of providers.”
The launch of the indices follows the Federal Government’s decision to guarantee bank deposits, which has put over 160 authorised deposit taking institutions (ADI) on an equal risk rating, he said.
“With over 160 equally rated ADIs to choose from, investors can now focus on yield, but they have a much wider market to cover,” he said.
