Which statement about a bank's products is correct?

Retirement savings accounts benefit from concessional taxation treatment, which means that contributions to these accounts may be taxed at a lower rate compared to ordinary income. This tax advantage is designed to encourage individuals to save for retirement and can significantly enhance the growth of their savings over time. The concessional treatment applies to both contributions and the investment earnings within these accounts, fostering long-term financial stability for individuals as they prepare for retirement.

In contrast, the other statements presented do not universally apply to banking products. Not all savings accounts come with competitive interest rates; they often vary by institution and market conditions. Home loans can have various types of interest arrangements, including variable, fixed, or a mix of both, which makes the claim that they only have fixed interest misleading. Lastly, while term deposits are considered relatively low-risk investments, they are not entirely risk-free, especially when considering factors like inflation or economic changes that can affect the real return on the deposit.