What factors affect time deposit interest rates?

I am currently considering time deposits as a savings account and am wondering why the interest rates these days are so much higher than a few years ago? I am seeing them up around 6% nowadays.





Thanks|||Because the Federal Reserve has raised interest rates many times in the last few years. Deposit rates are based on the Federal Funds Rate.|||Deposit interest rates depend upon the policy of the banks. If you want to know more then visit us at:


http://www.termdeposit.com/

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