Best Term Deposit Account. Longer term deposits have better rates. Younger consumers tend to choose online accounts for their convenience and immediate access to their money.
Best term deposit rates: Teachers Mutual Bank, Unibank, CUA, ING and The Mutual (Milton Sullivan)
This type of account is used to increase your principal amount if quarterly interest is not withdrawn. Terms deposit rates are still generally better than savings accounts, by not by as much as they used to be. Choose the monthly interest option to enjoy a regular income from your term deposit, paid directly into your New Zealand dollar bank account.
Depending on the term of your deposit, you can choose to have your interest paid monthly, quarterly, six monthly, annually, or at the end of the term.
In a term deposit account you are investing certain amount of money for certain period of time for which bank will give you quarterly interests, which can be reinvested or withdrawn periodically.
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Get guaranteed returns: lock in rock-solid term deposit interest rates, and pay no account-keeping fees at all. Get rewarded for good savings habits with. Open a Term Deposit Account with Greater Bank and lock in your money for a guaranteed rate of return for a term that suits you best.