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It’s Tough Out There; But a Great Time to Invest in Term Deposits

It’s tough times out there for New Zealanders with inflation, cost of living, and rising mortgage interest rates. However, now is a great time to invest in term deposits.



New Zealand Herald Money Wise Magazine August 2023

“What we’ve seen recently is that as the Reserve Bank’s official cash rate has increased, so have the rates offered for term deposits”.

“So, it really is a perfect time to lock in a premium term deposit rate providing regular income,” says Daniel McGrath, CEO of Xceda Finance.

Xceda offers term deposits from six months to up to five years, and rates up to 7.50% per annum.

Daniel says New Zealanders know and understand term deposits because the product is simple compared to other investment products.

“Term deposits allow you to invest for a set amount of time with a fixed interest rate so you can get certainty of your returns.”

Xceda has been managing term deposits for over 30 years. Founded in 1989 in Whakatane – under its original name of Asset Finance – some of their customers have had accounts for more than 20 years.

“In over 30 years of accepting retail term deposits, we have never failed to make a payment of interest or principal back to our depositors. We are extremely proud of this track record,” says Daniel.

Furthermore, Xceda is licensed as a deposit taker by the Reserve Bank and must adhere to strict regulations and governance, providing customers with even further comfort.

Xceda Finance Limited is a Non-Bank Deposit Taker regulated by the Reserve Bank of New Zealand licensed under the Non-Bank Deposit Takers Act 2013. Xceda Finance Limited is the issuer of the term deposits. The company’s latest Product Disclosure Statement (PDS) is available at:

View the August Money Wise Magazine here.