Scrabble for six- to 12-month deposits this week

Non-bank lenders scrabbled for deposits in the six- to 12-month range this week with seven institutions boosting their rates in this space.

Sunday, 4 July 2010

Hastings Building Society hiked its nine- and 12-month rates by 30 and 15 basis points respectively, while SBS Bank raised its three-, six, and 12-month rates by 75 basis points.

Savings and Loans raised its 12- and 18-month offers by 50 points, its two-year terms by 25 points and its three-year terms by 30 points, while Rabo upped its six- and nine-month deposit rates by 10 and 15 points.

Credit Union Auckland raised its $500 nine-month terms by 25 basis points and its $10,000 nine-month terms by 45 points, while First Credit Union lifted its $500 six-, nine- and 12 months offers by 50, 50 and 30 points respectively, and its $10,000 offer by 35, 50 and 15 points.

TSB increased six-month deposits by 20 basis points and its nine-month deposits by 10 basis points.

Marac increased its two-year deposit rate by 25 points, and Broadlands Finance hiked its two- and three-year terms by 75 points, and its four- and five-year terms by 100 basis points.

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