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deposit rates

News Archive - May 2009

5 May 2009Strategic Finance struggles to refinance on property slump
Strategic Finance, which gained approval for its moratorium from debenture and noteholders in December, has struggled to refinance outstanding debts as deterioration in the property sector makes it difficult for its borrowers to raise capital.
11 May 2009First NZ Capital taps demand for yield with new PIE fund
First NZ Capital Group's investment management unit has launched its first bond fund in a PIE structure, taking advantage of demand for yields offered by well-rated corporates.
18 May 2009Rates Round Up
Credit Sails costs investors; Payments delayed for Lombard investors; Dorchester cuts loss on end of year adjustments; Non-banks suffer from weak market.
20 May 2009BNZ to raise $150m through share offer
Bank of New Zealand (BNZ) is hoping to raise at least $150 million from New Zealand retail and wholesale investors.
21 May 2009Capital rules about to hit
The government is close to signing off on new tougher capital requirements for the non-bank deposit-taking (NBDT) sector that could force some institutions to raise significant amounts of fresh equity.
25 May 2009Rates Round Up
Provisional Finance receivership winds up; Allied raises $6.3 million; Marac extends into vehcile finance. Govt guarantee to blame for high rates.
25 May 2009Kiwibank keeps mum on four-day deposit rate bonanza
Kiwibank is keeping tightlipped about the term deposit rates on offer in its four-day special beginning today, although has admitted they will be "relatively short-term".
28 May 2009ING/ANZ make $400m final assault on CDO funds
Joint venture partners ING and ANZ have stumped up with $400 million in a revised offer to investors in ING's two CDO funds that will sidestep the need for a unitholder vote and stave off further legal action.

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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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