Term Deposit
Locking savings with a bank for a fixed period at a fixed interest rate — certainty in exchange for access.
A term deposit pays a guaranteed interest rate for a fixed term — commonly three months to five years in NZ. Rates are usually higher than on-call savings accounts, and the trade is access: withdrawing early typically costs a rate reduction and requires notice.
Term deposits suit money with a known future date — next year’s house deposit — rather than emergency funds, which need to be reachable this week. Interest is taxed as income via RWT.
From knowing to seeing.
Owdyn turns these concepts into one honest Safe-to-Spend number, updated daily from your own transactions. Free during beta, no credit card.
Free during beta · No credit card · Your data stays yours