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| Thread ID: 82207 | 2007-08-19 05:32:00 | Interest Rate Trend | xpcoe (12594) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 582778 | 2007-08-19 05:32:00 | Do you think the current RBNZ rate of 8.25 will be dropping in the next review or remain the same. If it will remain same then how long do you think it will remain the same. Also when u deposit for a term deposit say for 12 months for 8.50% and the bank says "Interest on Maturity", How often does the interest compound is it on maturity or monthly? Thanks |
xpcoe (12594) | ||
| 582779 | 2007-08-19 06:33:00 | I believe the interest is compounded on maturity unless you can specify otherwise. You could also look at a high interest earning bank account that calculates the interest monthly. I don't see the RBNZ interest rate dropping in the near future..but you never know. | winmacguy (3367) | ||
| 582780 | 2007-08-20 05:18:00 | Do you think the current RBNZ rate of 8.25 will be dropping in the next review or remain the same. If it will remain same then how long do you think it will remain the same. Also when u deposit for a term deposit say for 12 months for 8.50% and the bank says "Interest on Maturity", How often does the interest compound is it on maturity or monthly? Thanks I think they may raise the interest rates next time. this is because house prices are still going up according to QV, and our dollar has now dropped, so their isn't as much pressure to not raise the interest rates. I think banks interest rates will go up anyway, as they won't be able to borrow money from offshore as easily, after this sub prime problem in the US, where banks are going to be a lot more strict on who they lend money to. Don Brash predicts house prices to drop 10% soon, which will be good for buyers, but not if you have brought a house in the last few years and are wanting to sell it. |
robbyp (2751) | ||
| 582781 | 2007-08-20 07:24:00 | thanks robby/winma... do you know of any commercial banks in NZ that provide term deposit where interest is compounded monthly to principal? I know some offer the online savings where it compounds monthly i think but then again the interest rate fluctuates so i was after a term deposit that has compounding done monthly. I am guessing not - all interest rates quoted in NZ seem to be normally APR (Annual Percentage Rate) and i have not yet seen one quoting APY (Annual Percentage Yield) cheers |
xpcoe (12594) | ||
| 582782 | 2007-08-20 07:38:00 | thanks robby/winma... do you know of any commercial banks in NZ that provide term deposit where interest is compounded monthly to principal? cheers BNZ offer term deposits that compound quarterly but you have to specifically ask for them. |
tutaenui (1724) | ||
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