Term deposit Vs Rapid save

Hi, can I easily change from a Rapid save account to a Term deposit account? And what are the main differences between these two account types?

Kia ora, it’s pretty easy to open up a Term Deposit online. The basic difference between the Term Deposit and Rapid Save is that in a Term Deposit, the money is locked away for a fixed period of time with a fixed interest rate for that period. The Rapid Save is an account where the balance is not locked away and available. Of course there are other differences, and I recommend you look into it a bit further before you make your decision. Here’s the link showing you how to open Term Deposits: Opening a new term deposit - BNZ. Here’s the link to more information about Term Deposits: https://www.bnz.co.nz/personal-banking/investments/term-deposits and here’s a link to more information about the Rapid Save account: Rapid Save - BNZ. Hope this helps ^Rael