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deposit rates

News Archive - June 2009

1 Jun 2009Rates Round Up
Kiwibank happy with TD Tuesday's uptake; Vector bond sale raises $150 mln; Govt may align PIE and personal taxes
4 Jun 2009Bridgecorp directors banned
Former Bridgecorp directors Rod Petricevic and Robert Roest have been banned from directing or managing a company in New Zealand.
8 Jun 2009Rates Round Up
Long-term deposit rates start climbing; DPG posts another loss; Fortress Notes face more defaults; More details on NZ Post bond.
9 Jun 2009Allan Hawkins defends prospectus
Allan Hawkins defends Cynotech prospectus and says he is willing to disclose historic fraud.
14 Jun 2009Rates Round Up
Bollard happy for banks to offer deposit deals; RaboPlus boosts term deposits after OCR review; RBNZ calls for submissions on rules for non-bank deposit takers
14 Jun 2009Bond Focus: NZ yield curve stretched by bond sales, low rates
The steepest yield curve in 13 years is set to continue in New Zealand, mirroring the US and other major economies, as governments worldwide ramp up bond sales while central banks hold short rates near record lows.
16 Jun 2009Be careful before investing in cash PIEs
Boutique wealth manager Newton Ross has raised concerns about cash Portfolio Investment Entities, or PIEs, and warned investors to make sure they've done their homework before putting their money into a cash PIE.
16 Jun 2009ING faces fury as offer divides investors
About half of the 200 or so investors gathered at the ING roadshow in Napier yesterday indicated they were ready to accept an offer from the fund manager to redeem their units in the group's two underwater CDO funds.
17 Jun 2009PSIS says margin on deposits more than halved
PSIS says it has had to cut the margin between its floating lending rates and term deposit specials as the credit crisis took hold.
18 Jun 2009Complaints prompt Securities Commission to warn ING investors
The Securities Commission is warning ING investors to consider the offer they received from ING New Zealand last week carefully after receiving a large number of complaints over the proposal.
21 Jun 2009Rates Round Up
Long term investment rates keep rising; Glimmer of hope for Fortress noteholders, English bats away FEC concerns over bank margins, TSB cuts lending rate, but may keep deposits level.
23 Jun 2009No govt guarantee spells end for trust
The recession has caught up with Auckland Mortgage Trust, which has begun winding down its business after failing to secure a government deposit guarantee as access to credit dried up.
24 Jun 2009Com Com gives message to ING investors
The Commerce Commission has said its investigation into the sale of the ING frozen funds will take another six months to complete and if it decides to take any further action after that could add another three years to the process.
24 Jun 2009Kingfish introduces quarterly dividends
Fund manager Carmel Fisher's Kingfish, the small cap investor managed by Fisher Funds, will offer quarterly dividend payments to investors, with first return likely to be made in September.
28 Jun 2009Rates Round up
Hanover loses chief executive; Competition heats up for three-month deposit rates; Bridgecorp's Fijian resort on the block; Propertyfinace Group suspended from exchange; Dorchester looks to break even; Five Star manager gets five year ban.

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Today's Best Bank Rates
Rabobank 0.75
Based on a $50,000 deposit    More Rates »
Today's Top 5 Deposit Rates
InstitutionRateProduct
NZCU Auckland 1.00 Success Saver
First Credit Union 0.75 Online Savings
Rabobank 0.75 Rabobank PremiumSaver - max rate
Heretaunga Building Society 0.60 On Call
NZCU Baywide 0.60 Success Saver
Based on a $50,000 deposit    More Rates »
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Cash PIE Rates
Institution Rate 30% 33%
ANZ 0.10 0.10 0.11
ASB Bank 0.05 0.41 0.42
ASB Bank 0.05 0.59 0.56
ASB Bank 0.05 0.61 0.64
ASB Bank 0.08 0.66 0.69
ASB Bank 0.08 0.72 0.75
BNZ 0.10 0.10 0.10
Heartland Bank 0.40 0.40 0.40
Kiwibank 0.05 - -
Kiwibank 0.25 - -
Nelson Building Society - - -
SBS Bank - - -
TSB Bank 0.25 0.25 0.26
Westpac 0.35 0.36 0.38
Westpac 0.05 0.05 0.05
Westpac 0.35 0.36 0.38

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