I am trying “To be Good with Money” by investing $10,000 from my Rapid Saving a/c in a 5 year term deposit but I am going to be penalised by the bank; namely, the BNZ; for doing what it says. “Be Good with Money”.
How you may ask:
Well now; Firstly: I am going to loose my bonus interest because no way can I save another $10,000 in that a/c in a mth.
Secondly: If I have to make another withdrawal, it means I will be penalised again. $5.00
Remember this $10,000 is not leaving the bank. In fact the bank will have full use of it for the next 5 yrs, still it is going to penalise me by being good with money! Now, is that fair? Someone hasn’t thought it through.