Buy Telstra (ASX:TLS) shares instead of term deposits

At present, a 24-month term deposit from Australia and New Zealand Banking GrpLtd (ASX: ANZ) will provide investors with an interest rate of just 0.3%. This is broadly in line with what the rest of the banks are offering.

This means that a $100,000 investment would yield just $300 of interest each year.

Luckily, income investors don’t have to settle for that and there are a good number of shares offering vastly superior yields.

One of those is telco giant Telstra Corporation Ltd (ASX: TLS).

Why Telstra?

Telstra has been a big disappointment for income investors in recent years.

The NBN rollout created a significant gap in its earnings and led to a series of dividend cuts by the Telstra board.

The good news is that these cuts now…