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The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy.
A variable-rate CD — also called a flex CD — is a type of certificate of deposit with an interest rate that can fluctuate periodically over the term of the CD based on market conditions.
Judo Bank is an Australian neobank focused on small and medium-sized enterprise lending but also offers a range of personal term deposit products to consumers. As of January 2020, Judo Bank had lent $1B to Australian businesses and another $1B in digital retail term deposits. [1] [2]
The term fixed deposit is most commonly used in India and the United States. It is known as a term deposit or time deposit in Canada, Australia, New Zealand, and as a bond in the United Kingdom. A fixed deposit means that the money cannot be withdrawn before maturity unlike a recurring deposit or a demand deposit. Due to this limitation, some ...
Time deposits normally earn interest, which is normally fixed for the duration of the term and payable upon maturity, though some may be paid periodically during the term, especially with longer-term deposits. Generally, the longer the term and the larger the deposit amount the higher the interest rate that will be offered. [1]
Certificates of deposit. CDs offer guaranteed fixed rates of return in exchange for leaving your money untouched for a set term of your choosing. Many of today’s best CDs earn more than 4.00% ...