Hi Andy
This is an interesting interpretation and while it's factually correct, it may lead to bad decisions by depositors.
You are almost implying that if you want your deposit guaranteed beyond 29th September, then you should open a term deposit now.
I don't agree. A demand deposit is guaranteed up until 29th September and one can make a decision about that closer to the time. It's likely that the demand deposit guarantee will be extended well before then.
It's not a good idea to have term deposits in insolvent banks which are dependent on the government guarantee. It's better to have demand deposits in solvent banks which have a government guarantee.
