MARAC launches MARAC Rapid Saver: A high interest savings account
MARAC has launched a new savings account, MARAC Rapid Saver1, which gives investors the ability to make automated
monthly deposits which, combined with MARAC’s competitive interest rates and having interest compounded monthly, will
allow investors to reach their savings goal more rapidly.
Andrew Ford, Retail Investment Manager at MARAC comments: “The launch of MARAC Rapid Saver is a further expansion of the
investment options we currently offer our customers. With the rising cost of food and general living, many New
Zealanders are having to tighten their belts. However, a regular savings programme can quickly build up a nest egg for
either short or long-term goals like a house deposit, a holiday, retirement savings or your child’s university fees.
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 MARAC Rapid Saver 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 the monthly contribution or to take a “contribution holiday”
No fees or transaction charges, which increases the return to the investor
A range of investment terms from 12 months to five years.
Ford continues: “Rapid Saver offers a disciplined but flexible way to grow your savings so that you can reach your goals
faster. For example, if a parent put $2,000 into MARAC Rapid Saver when their child was born and continued to make
monthly contributions of $100, the child would have over $60,000 when they turn 212.”
MARAC has a guarantee under the New Zealand deposit guarantee scheme3.
Brian Jolliffe, MARAC’s Managing Director comments: “MARAC is a wholly New Zealand owned and operated company that has
been in business for more than 55 years, and is one of the largest finance companies in the country. MARAC has a BBB-
(Stable) 4 credit rating from Standard & Poor’s. Our parent company, Pyne Gould Corporation Limited5, announced on 30 September, its intention to apply for a
banking licence. All of these factors combined provide investors with even greater confidence in the MARAC business as
an investment.”
Investors can find out more about MARAC Rapid Saver online at www.marac.co.nz or by calling 0800 26 27 22 to request an investment statement.
1 MARAC Rapid Saver is a first ranking secured debenture stock investment, subject to permitted prior charges (currently
none) and claims given priority by legislation. Call MARAC on 0800 26 27 22 or visit www.marac.co.nz for a copy of MARAC Finance Limited’s investment statement.
2 Calculation based on MARAC’s current interest rate of 8.00% p.a. for three years (and assumes this rate applies for
the entire 21 year term of investment) and a resident withholding tax rate of 19.50%. MARAC interest rates are subject
to change.
3 Further information about the New Zealand deposit guarantee scheme and the most recent audited statement of
financial position of the Crown are available, free of charge and at all reasonable times, on the internet site
maintained by, or on behalf of, the Treasury at www.treasury.govt.nz.
4 Standard & Poor’s ratings are statements of opinion, not statements of fact or recommendations to buy, hold or sell any
securities. Ratings may be changed, withdrawn or suspended at any time. For the latest ratings information please visit www.standardandpoors.com.
5 Pyne Gould Corporation Limited (MARAC’s parent company) nor any other entity guarantees any securities offered by
MARAC or the returns payable thereon.
ENDS