The right term deposit can help turn your Edmund Hillary into an Ernest Rutherford. In defence of the humble term deposit, as far as financial products go I do get the appeal. A generation of Kiwis will remember the term deposit heydays; when the fictional rates we see in Banqer were really available in Kiwi banks. But those days are behind us, and the high level of national term deposit holding is costing not only the individual, but our national economy, too. Hopefully the end is in sight for some of the term deposit holders out there, with maturation on the horizon.

Source: Stuff January 27, 2021 15:56 UTC