Sentinel launches Term Deposit Bond

Tuesday, 16 November 2004, 3:45 pm
Press Release: Sentinel

16 November 2004

Effective from 15 November, Sentinel has introduced an attractive, tax-paid Term Deposit Bond to the investment market.

Sales and Marketing Director, Paul Bravo, feels the time is right for the introduction of the Bond. “The Term Deposit Bond is an efficient, 'no fuss', tax-paid investment which can be redeemed at any time, but with a bonus return paid if it remains in place for one year. There are no entry fees, or exit fees after the first 3 months, and the rate is very attractive, particularly to higher rate taxpayers.”

The minimum investment is $5,000 and maximum is $500,000, with a current rate, including maturity bonus, of 4.65%. This is equivalent to a return before tax of 7.62% for a 39% tax payer. The initial maturity bonus on 0.5% increases by 0.1% following each year’s maturity and reinvestment, up to a maximum rate of 1%.

Sentinel is a New Zealand organization owned and operated by people with a proven, and highly successful, track record in financial services and mortgage provision. Sentinel’s founders and senior management are essentially the same people who founded and build Sovereign, New Zealand’s largest life assurance company.

ENDS

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