Tyro launches term deposit pilot

Tyro has launched a pilot for the latest addition to its banking product suite with a term deposit product for Australian businesses.

Robbie Cooke, CEO and Managing Director of Tyro, says Tyro’s first foray into the term deposit market will provide businesses with an opportunity to lock away their savings at competitive rates.

“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,” Mr Cooke 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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