These ASX dividend shares offer yields 8 times greater than term deposits // Motley Fool Australia

At present, Commonwealth Bank of Australia (ASX: CBA) is offering term deposits with interest rates of 0.60% per annum on amounts over $50,000 for five years.

This is broadly in line with what you’ll find from the rest of the big four banks right now.

Luckily for income investors, the Australian share market is home to a number of shares that offer yields many times greater than this.

Two ASX dividend shares which provide investors with yields eight times larger are listed below. Here’s what you need to know about them:

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