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Thread: Term Desposit

  1. #1
    gnom's Avatar
    gnom is offline Member
    Join Date
    May 2008
    Location
    Wellington
    Posts
    84

    Default Term Desposit

    Hi World First, in July this year my term deposit ends. Do you think I should open a new one or should I leave the money in the bank and wait for better interest rates?
    Got Job offer in November 2007
    Got 3-years work visa valid to 15.01.2011 in Jan 08
    Landed in Wellington the 16th January 2008
    Work permit for my partner submitted the 26th Jan 08
    Loged EOI the 27th January 2008
    Was selected the 31st January 2008
    Work permit/visa granted for my partner the 20th Feb 08
    Loged my PR the 28th March 2008
    PR approved 23.07.2008

    Cheers
    Gnom

  2. #2
    World First is offline Junior Member
    Join Date
    Apr 2009
    Posts
    4

    Default Deposits...

    Hi Gnom,

    Is the money in NZ?? With some longer term deposits you get a preferential rate but it can be costly to break out of the arrangement earlier. How long was the existing term deposit. Deposit rates here in NZ have gone south considerably on the back of the RBNZ battle with the economic downturn, but they are still more favorable than the UK, Eurozone or US.

    Check out Interest rates in New Zealand for a breakdown on whats on offer from the major institutions.


  3. #3
    gnom's Avatar
    gnom is offline Member
    Join Date
    May 2008
    Location
    Wellington
    Posts
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    Default

    Thank you
    Got Job offer in November 2007
    Got 3-years work visa valid to 15.01.2011 in Jan 08
    Landed in Wellington the 16th January 2008
    Work permit for my partner submitted the 26th Jan 08
    Loged EOI the 27th January 2008
    Was selected the 31st January 2008
    Work permit/visa granted for my partner the 20th Feb 08
    Loged my PR the 28th March 2008
    PR approved 23.07.2008

    Cheers
    Gnom

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