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Marac launches high interest account

Marac has launched a new savings account which gives investors the ability to make automated monthly deposits.

Thursday, November 27th 2008, 3:20PM
The Marac Rapid Saver account is designed to help investors reach their savings goals more quickly and is in response to the tough economic conditions where saving becomes more difficult.

“With the rising cost of food and general living, many New Zealanders are having to tighten their belts,” says Andrew Ford, retail investment manager. “This is a product developed for Kiwis and offers competitive interest rates, a good deal of flexibility and is easy to invest in.”

The key features of the account are:

  • Low initial deposit amount of $1,000
  • Regular automatic monthly contribution to help grow the investment rapidly
  • No minimum monthly contribution
  • Flexibility to increase or decrease monthly contributions or to take a “contribution holiday”
  • No fees or transaction charges
  • A range of investment terms from 12 months to five years.

Marac has also been accepted into the deposit guarantee scheme.

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