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Saving & Investing
Latest
Why do banks keep doing this to savers?
Heartland Bank has launched a brand-spanking new savings product — the Digital Saver account. And with a 5.00%p.a. interest rate, it sounds pretty good. But there’s something kind of weird about Heartland launching this new account — so what's the deal, and is there a catch?
Ranking New Zealand's best and worst savings accounts
Not all savings accounts are created equal, and it's worth knowing what all your options are so you can get set up with the one that best suits your savings goals. Here, we've pulled together a wrap-up of the different savings accounts available across New Zealand's main retail banks.
Why continued high interest rates aren’t all bad news
The Reserve Bank is holding the OCR steady at 5.50%, and after rumblings from parts of the market that suggest we could be in for another hike, most economists are now predicting the OCR will remain at 5.50% through much of 2024. It’s not the news that Kiwi mortgage-holders were hoping for, but how can Kiwi benefit from higher interest rates?
Squirrel’s Personal Loan Reserve Fund hits a very important milestone!
Squirrel’s Personal Loan Reserve Fund is about to mark its 8th birthday. And this year, it’s not just a birthday we’re celebrating, but one other very important milestone.
How Squirrel works to protect your money and personal data against cybercrime
Here at Squirrel, we eat, sleep and breathe cyber-security. That means making sure we’re doing everything we can at our end to keep your money and data safe – and also supporting you to do the same. So what does that look like? Let's dive in.
The game of risk vs. reward when it comes to investing into debt
When you hold money with a bank – be it in a transaction or savings account, or a term investment – it doesn’t just sit there. So, why won’t banks let you choose where your money goes, and are there other options to investing?
FAQ time: Investing with Squirrel
We sat down with Squirrel Chief Operating Officer, Dave Tyrer, to get his answers to the top 20 questions we get most often from investors on our platform.
What will it take to create greater competition in banking? It’s not another bank
The Kiwi banking sector has come under some pretty heavy scrutiny in recent months, as uniformity and a lack of competition between key players has allowed bank profits to soar (and keep on soaring) at the expense of their customers. So, what's the answer? Well, Squirrel's Dave Tyrer reckons it's not another bank.
Breaking the bank: 5 bank secrets that cost savers over $4 billion each year
New Zealand’s retail banks made $9.96 billion (yep, that’s with a ‘b’) of pre-tax profit in 2022. And while the banks are laughing all the way to the – well – bank, what most Kiwi don’t fully understand is how they’re making that money. (Spoiler alert: it's Kiwi that are losing out.)
Why are bank profits so high... and still climbing?
One of our biggest banks has just reported a 26% increase in revenue over the last six months - while growing sales by just 2%. How does that even happen? And what can Kiwi be doing to take some of it back?
The best and worst bank savings accounts in New Zealand
Kiwi are missing out on roughly $2 billion of interest each year on “lazy” money sitting in their transaction accounts — so we’ve stacked up Aotearoa’s best and worst savings accounts to help you unlock your share.
Covert tactics: How banks profit off "lazy" savings customers
The banks have come under fire recently for some of the ways they're making money from their customers. If it's been a while since you reviewed your savings account options, here's how you might inadvertently be helping to line their pockets.
