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Wrightson spurns long-term guaranteed depositsMonday, August 23rd, 8:16am
PGG Wrightson Finance turned its back on long-term deposits that were covered by the government’s retail deposit guarantee, while other lenders focused on trying to attract six-month month.Wrightson cut its three-, four, and five-year guaranteed terms by 10, 10, and 35 basis points respectively, while it lifted guaranteed deposits in the 18-month and two-year space by 20 points. It cut guaranteed terms in the six-, nine- and 12-month space by 15, 40 and 45 points. For deposits not covered by the government's retail deposit guarantee, it hiked $1,000 deposits by 25 points for three-month rates, 10 points for six-month rates, 40 points for 18-month rates and cut two-year rates by 30 points ...MORE »
Previous News
First cut to long term bank TDs for monthsMonday, July 26th, 10:47pm
The past week has been quiet for deposit rate changes, however ASB changed that when it cut TD rates on Monday. MORE »Banks adjust short TD ratesMonday, July 12th, 6:55pm
Credit Union South looks to tap short-term money in quiet week. MORE »Scrabble for six- to 12-month deposits this weekSunday, July 4th, 9:25pm
Non-bank lenders scrabbled for deposits in the six- to 12-month range this week with seven institutions boosting their rates in this space. MORE »Some TDs rise with home loan rate increasesSunday, June 20th, 9:53pm
It was a quiet week on the deposit rate front in a week where ASB hiked its variable lending rates by 25 basis points, and flagged its on-call deposits would follow suit next week. MORE » Allied Nationwide ramps up longer-dated deposit ratesMonday, June 7th, 8:55pm
Allied Nationwide, whose parent company bought the Hanover and United loan books in a debt-for-equity swap last year, has led the charge for longer-dated money this week, and boosted its deposit rates for terms of more than a year. MORE »Bublitz's Mutual Finance ramps up ratesSunday, May 30th, 9:14pm
Paul Bublitz's Mutual Finance has ramped up its deposit rates for nine-month terms to two-year term as the competition for retail funds continues. MORE »F&P Finance goes for money beyond extended guaranteeTuesday, May 25th, 9:41am
Fisher and Paykel Finance has adjusted its long-term rates now it has been accepted into the extended Government guarantee scheme. MORE » |
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Rates as at 02 August 2010 For a full comparison table, click here. |
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With the recent movement in five-year term deposit rates in the past week by BNZ and ASB, the above graph looks at the margins between the major retail banks five-year fixed home loan rates and the five-year term deposit rates since the beginning of the year. The term deposits are based on a $10,000 deposit. MORE »Find an Adviser
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