NZD normally correlated to AUD.

I would rather diversify in AUD instead all eggs in NZD.
AUD fundamental is stronger than NZD.

Interest rate for AUD and NZD is expected to rise further if economy does recover, so too long term commitment is not advisable. Just my opinion, I could be wrong.

None of move will reduce currency risk, it is nature of it and depended on one's risk appetite and comfortable level.
Even we holding RM, we still have currency risk on RM, whereby RM can appreciate/depreciate against others major currency.

i'm currently studying finance in australia and pretty well aware of the banking industry over here.

so if you do have any reservations/questions, do post them in this thread, i will try my best to answer them.

of course the usual disclaimer rule applies as i'm not providing any personal advice.

by the way, 60 months for just 6.75% is way way too much and unjustified.

you can obtain 6% with ease without any commitment i.e. withdrawal at your discretion.

these days, with internet banking, you can manage your funds at a click of a mouse.

You look at wrong aspect already if you want to invest.  

For currency issue.
Several key factor we need to look at

1. Economy situation aka growth
2. Trade surplus/deficit
3. Gov surplus/deficit.
4. Strength of economy, size of economy.

AUD is actually more stable than NZ in vs RM
AUD is one of six major traded currencies in the world, while NZD is not.

While Australia has strength in resources, world major iron ore supply, as well as agriculture export.

You need to assess the situation yourself, there is no such thing of best option.
Every move come with its own risk.

You should take note of the tax rule in NZ.

the usual disclaimer rule applies as i'm not providing any personal advice.

you are definitely, what they call a risk-adverse investor; unwilling to participate in risky products and made obvious with questions like Do you think this is the best time to put money in AUD? Will the currency have chances to still going down?

seeing that you actually have NZD600 grand to spare, i would definitely recommend that you first open a malaysian hsbc premier account (however it is likely that you already have one based on your previous statements). but always maintain that account to avoid hefty monthly charges.

then instruct your relationship manager to assist you to open an australian equivalent of hsbc premier account.

with an existing, recognised australian account, you are then exposed to an array to other financial products offered by other banks/financial institutions.

IMHO, bankwest typically offer very attractive products and is backed by commonwealth bank of australia (one of the big four). also bear in mind that these products are not precisely term deposits/fixed deposits and hence there is no commitment needed. statements in the spoiler below are quoted from bankwest's website.


yes, australian banks will yield you one of the best returns globally, but it is also extremely volatile. hence, if the AUD depreciates to a level unacceptable to you, you can always opt to transfer the funds from your australian hsbc premier account to the malaysian equivalent at your discretion with no commission or fee.

interests earned are non-taxable if total income earned is kept below AUD6000 per annum. further explanation of personal assessable income tax brackets can be found from the ATO website