Westpac is betting that investors in term deposits will become more sophisticated in their use of the product and start to look for some diversification in interest rate structures and terms.
About 12 months ago the bank started selling a range of products called Retirement Deposits. One of the products in the suite, Coupon Select, allows investors to pick terms as far out as 10 years; to pick fixed or floating rates, or a combination of the two; to switch from floating to fixed, and to opt for a return of capital with the interest payments.
Wholesale investors (with a minimum...
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