Marac charges up non-secured deposits

Marac Finance ramped up its rates for non-secured deposits this week with the biggest gain in short-term offerings.

Monday, 17 May 2010

It hiked its six-month unsecured deposit 100 basis points, and its two-year unsecured terms by 50 basis points, while lifting its secured six-month term by 75 points, and cutting its secured nine-month and 18-month terms by 50 and 200 basis points respectively. It also raised its secured two-year deposits by 50 points.

Credit Union Baywide lifted its three-year rates by 25 basis points, while PSIS hiked its nine-, 12-, and 18 month deposits by 10 basis points each. Rabobank raised its 12-month rate by 5 basis points, and TSB lifted its 12-month term by 10 basis points.

FE Investments looked for longer-dated cash, raising its 18-month rates by 110 basis points, its two-year rates by 70 points, and its three-year deposits by 20 basis points.

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