Deposits can be placed as ‘cash’, providing access within a day or for a fixed term, hence ‘term deposit’.
They are usually placed with an Authorised Deposit-Taking Institution (ADI). All ADIs, whether they be a bank, building society or credit union are tightly regulated by the Australian Prudential Regulation Authority (APRA). Extra safety is provided through the depositor protection provisions of the Banking Act of 1959. This proclaims that depositors are paid out prior to other creditors. They are therefore a relatively safe form of investment.
Further security comes from the Financial Claims Scheme that guarantees up to $250,000 of a deposit per investment entity per ADI.
Curve sources deposit rates from over 80 Banking Institutions finding the best rates across the whole credit spectrum from the AA- rated major banks to unrated Credit Unions.
Curve regularly accesses ‘special’ deposit rates for its clients when banking institutions are looking for extra funds. They value the access we can provide to our diverse client base and come to us with exclusive opportunities for our clients.
When required Curve will also negotiate better rates on behalf of its clients.
Many institutions have paperwork laden deposit processes. Curve has worked with the deposit-takers and has developed systems and processes to save its clients from this burden. When paperwork is still required we fill it all out leaving you just to sign and email back.
Curve keeps our clients informed of regulatory and product developments that are likely to impact on investment options.