Take a second look at term deposits
from Canny View Podcast
People with money in the bank are getting the lowest rates of interest since the 1960s and those rates could still fall further, it is warned. According to Newsroom's Business Editor Nikki Mandow, more than a third of the money New Zealanders have in our Aussie-owned banks is earning us no interest - or virtually none. And it’s costing us somewhere between $400 million and $900 million a year in lost interest - depending on how you crunch the numbers. The banks know this - but it’s one of the reasons they are so very profitable in New Zealand. Canny View Podcast is available on all major streaming platforms, including Spotify and Apple Music. The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visiting our website, www.stewartgroup.co.nz
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