It could have been a long term rate if you had taken it up at the time.Central bank rates dropped at close of business on the 17th by another 50basis points.So I would guess that the top rate by start of businesson monday will be about 10.25 gross.The suggestion is that rates will go down again,perhaps in two drops with a max of another 75basis points.So if you want to invest for three months or so, you may want to consider extending your savings account contract to 90 days.I suggest you speak to banker to get confirmation on this.Regards J