A trip away, picking up a new hobby or saving up for a new car - it’s safe to say many Aussies may have already started making plans for 2020.
And it looks like the same goes for business bank, Tyro who announced on Tuesday that they’ll be adding a term deposit product to their suite of finance products for Australian businesses.
According to Tyro CEO and Managing Director, Robbie Cooke, the Tyro term deposit is the perfect addition for a seamless business banking experience.
“With the addition of a term deposit product, Tyro EFTPOS and eCommerce customers can transact and automate payments via the Tyro Bank Account’s Xero integration; borrow up to $120,000 via the Tyro Business Loan; and now lock away funds for a set period,” he said.
“All of that can be done via the Tyro App, which also allows customers to view their in-store EFTPOS and eCommerce transactions in near real-time. They can essentially manage all of their payments and banking from the palm of their hand.”
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While Tyro hasn’t given away the interest rate just yet, existing customers with a Tyro Bank Account will have access to the term deposit and can lock away their funds with a balance as low as $1,000 for 30, 60 or 90 day terms.