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| Thread ID: 97792 | 2009-02-28 00:15:00 | NZ Interest Rate Trend | learning (5137) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 751944 | 2009-02-28 00:15:00 | I am planning on putting some money in term deposit with a bank and i know the current OCR is 3.5% The way economy is going i m sure there will be another round of cuts before OCR will be climbing again. I am thinking of either putting the money for 12 months or 18 months in term deposit but i m not sure upon maturity of say if i go for 12 months, will the interes rate be above 3.5% at that point so i can go for another renewal at at higher rate at that point or should i go for 18 months and at that point OCR will be on upward trend When do you think the rates will bottom out and start climbing up again so that when its on the upward trend i can expect my funds to mature round about same time and go for renewal at a higher rate instead of getting a lower rate then what i m gonna get today. A year from now i have a nagging feelin it will be below 3.5. What are you thoughts thanks |
learning (5137) | ||
| 751945 | 2009-02-28 01:08:00 | You are not alone... Our top financial "experts" would also like an answer to this question. |
Laura (43) | ||
| 751946 | 2009-02-28 05:16:00 | Learning, when we needed legal advice, we went to a Lawyer. When we wanted investment advice we went to a investment advisor!!!. No more, they were only doing it for their commissions. Our money is now going into term deposit short term, which are now the best rates, so don't go for 12 months, it's far toooo long a time. There is a lot more Sh*t yet to hit the fan. Lurking. |
Lurking (218) | ||
| 751947 | 2009-02-28 05:33:00 | We will look back at the OCR rates in 2009 and ask "how did they get so low?". They will get lower yet but we will see them rebound in late 2009, early 2010. If I were you I wouldn't lock the money in for too long. | andrew93 (249) | ||
| 751948 | 2009-02-28 11:18:00 | Right Wing philosophies of last 25 years running Economy = Major FAIL. 25 years to F... it, maybe much longer to fix it, if ever, the damage is done. |
zqwerty (97) | ||
| 751949 | 2009-02-28 17:30:00 | When it comes down to it, it doesn't really matter what term you select. The rate will be as good as the banks think is appropriate for the term - they're not dummies. They have whole departments modelling interest rate trends. So you may as well pick the best rate for the length of time you won't need the money for... Then repeat when that term expires. | johcar (6283) | ||
| 751950 | 2009-02-28 19:35:00 | When we wanted investment advice we went to a investment advisor!!!. No more, they were only doing it for their commissions. Lurking. I always read that it was best to pay for investment advise rather than get it free when they were getting a commission from the companies you put your money with. |
Digby (677) | ||
| 751951 | 2009-03-01 06:05:00 | Thanks Lurking Andrew n everyone else. Its just that i had a existing term Deposit which matured today and it was locked in for 8.6% ! Now i m looking and the current rates are half that so was jst askin to maximise my profits from another renewal for either 12 or 18 months. |
learning (5137) | ||
| 751952 | 2009-03-01 06:13:00 | Mate the financial experts have been wrong with their forecasts. Even the NZ treasury estimates have turned out to be from ga ga land. Take a punt with your best guess it probably be better than " experts" advice. Last year the clowns said petrol now would be around $3.50 to $ 4.00 a litre. |
prefect (6291) | ||
| 751953 | 2009-03-03 03:55:00 | I always read that it was best to pay for investment advise rather than get it free when they were getting a commission from the companies you put your money with. Our advisor worked for the Financial Institute we had money with, but he had advised us that " as solid as I reckon" was a better bet. Conflict of interest no doubt. Lurking. |
Lurking (218) | ||
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