Could Savings be (Nearly) Back in Vogue?
During this era of low interest rates, savings have been – to be blunt – a near waste of time. As the Official Cash Rate dropped, so did mortgage rates, deposit rates, and any incentive to have a pot...
View ArticleBest Term Deposit Rates
It really is a wonder that there was a stock market crash here in the mid-1980s. If you look back at the term-deposit rates offered at the time, you have to ask yourself why people bothered with risky...
View ArticleWhat Happens If You Withdraw a Term Deposit Early?
Term deposit investment periods are set in stone, from a few months to several years. But that doesn’t mean that you can’t get your money back early. Canstar looks at what happens if you want to...
View ArticleBest Rates: Savings Accounts Vs Term Deposits
Over recent months, for both borrowers and savers, we’ve seen long-term interest rates fall slightly as shorter-term rates have continued to nudge higher. And, as a result, some savings accounts are...
View ArticleHeartland Bank: Awarded Best Bank for Savings
Over the past year, interest rates on savings accounts have more than doubled. Back on July 7, 2022, the average rate on Canstar’s database for bonus-rate savings accounts was 1.30% p.a. Now, it’s...
View ArticlePIE Funds vs Term Deposits
If you pay a top tax rate and are considering placing a sum in a term deposit, you could maximise your returns by investing in a PIE fund instead. What is a PIE fund? PIE stands for Portfolio...
View ArticleWhat is PAYE Tax?
What is PAYE? PAYE stands for Pay As You Earn. It’s used to collect income tax and an ACC levy from an employee’s salary or wages. The PAYE system ensures that income tax is deducted from a worker’s...
View ArticleBest PIE Funds in NZ
PIE funds work exactly like term deposits, except interest is taxed at a lower rate. These lower rates are called prescribed investor rates (PIRs): Annual Income Income Tax Rate PIR $14k-$48k 17.5%...
View ArticleTerm Deposits: What is Laddering and How Does it Work
What is laddering? Laddering is a strategy that involves an investor dividing their total investment sum and investing each part in separate term deposits with different maturity dates. Each deposit...
View ArticleHow Much Interest Could You Earn on $1 Million?
The answer to our question depends on how you choose to save or invest that money, and for how long. In this article, we look at how much interest you could earn on $1 million invested in a term...
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