The difference between saving and investing is that saving is a part of your money that you put away and earn interest on and investing is buying something (e.g shares, house) that you intend or hope to make money on and sell when the time is right. These are split up into high risk and low risk investment.
The different services provided are different depending on the place you visit.
National Bank provides a variety of short and medium to long term investments and saving opportunities. In the short term you can get the National Bank to disperse your monthly income. The time frame recommended is 3 months or more depending on how much you want to save. They offer you opportunities to transfer this into longer term investments or draw your cash out as you need it. There is also a minimum of $5000 in which you must invest with.
In the medium to long term investment opportunities you can start with as little as $500 and then get a positive return from this and gain up to $550 in 30 days.
Term deposits include short and long term this can vary from 5 years to 5 days. ANZ offers competitive investments and well protected investments. For amounts of money over $50,000 can be negotiated with the bank. This offer includes a fixed term investment, flexible interest payments and no set up fees. In this investment you must choose your time wisely as penalties apply if your money is withdrew before set date. This can be done by phone if needed.
St George has a very wide interest on savings rates. These can vary from 2.50% p.a to 4.70%p.a on an annual basis and on a half yearly basis it is 2.05% to 4.60%.