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Money Mail 81 - Is a term deposit your money?

Keep The Change

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The Importance of Term Deposits

This week I heard from someone that they went to break the term deposit. A term deposit is a type of deposit where money is locked up for a set period of time, ever turns a set interest rate. Historically these have been very popular products in New Zealand and across the world because it's easy money. As interest rates have decreased, these have become less popular because the return is so low.

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