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deposit rates

News Archive - May 2011

1 May 2011Geneva gets a little ratings upgrade
Standard & Poor's has raised GFNZ Group's credit rating as promised, but only to one notch below the rating it held until March 18.
3 May 2011Quake cools deposit war: KPMG
The flight of money out of finance companies and insurance money from the first Canterbury earthquake has helped the deposit interest rate war abate, at least for now, says accounting firm KPMG.
3 May 2011South Canterbury Finance's Scales stake sold for $44m
South Canterbury Finance's (SCF) receivers have sold its 78.7% stake in Scales Corporation to Direct Capital for about $44 million or $2 per share.
4 May 2011Doors close at Irongate
Irongate Property said it has asked trustee Perpetual Trust to appoint a receiver.
10 May 2011NZF's position delicately placed: S&P
Standard & Poor's has cut NZF Money's credit rating to “CCC-” with a negative outlook, saying its liquidity position “remains delicately placed.”
18 May 2011Canterbury university may need govt help on earthquake remediation
Canterbury University has sufficient financial resources to manage its immediate obligations and is talking to the government about how to meet any shortfall in the amount its insurers pay, says vice-chancellor Rod Carr in a letter to holders of the university's $50 million of listed bonds.
19 May 2011Z Energy mulls another retail bond issue
Z Energy, formerly Greenstone Energy Finance, says it is considering another retail bond issue on similar terms to last year's $147 million issue which ranked equally with Z's banks.
19 May 2011Heartland faces obstacles to achieve bank status
Heartland New Zealand still faces many obstacles before it can gain a banking licence, says accounting firm KPMG.
23 May 2011South Canterbury Finance receivers sell $100m in loans
[UPDATED] South Canterbury Finance's (SCF) receivers have sold more than $100 million in commercial loan assets to GE Capital's New Zealand equipment finance business.
24 May 2011Rates Round Up: May 24
Included in this round up - which will be updated during the week are; Genesis raises $275 mill; Hanover withdraws summary judgment claim against Allied.
26 May 2011HSBC offers exceptional term deposit rate
HSBC is offering its “Premier” customers an exceptionally high 7% annual interest rate for a four month term with a minimum investment of $10,000, although the offer comes with significant strings.
29 May 2011Fisher & Paykel Finance's results shine
Fisher & Paykel Finance's performance was the stand-out in its parent company's annual results, lifting operating profit by 20% while the supposed "main" appliances business saw its profit fall 20%.
30 May 2011Credit rating upgrade for PSIS
Standard & Poor's has announced it has raised its counterparty credit rating on PSIS from BB+/B to BBB-/A-3 and revised the outlook from positive to stable.
30 May 2011Allied Farmers won't be replacing Rob Alloway
Allied Farmers won't be replacing chief executive Rob Alloway when his contract expires on June 30, says chairman Garry Bluett.
31 May 2011NZF Group posts $4.8m annual loss
The continuing fallout from the global financial crisis and the collapse of so many local finance companies saw the NZX-listed NZF Group post a $4.8 million net loss for the year ended March.

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Today's Best Bank Rates
Heartland Bank 0.75
Heartland Bank 0.75
Rabobank 0.75
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Today's Top 5 Deposit Rates
InstitutionRateProduct
First Credit Union 2.00 Online Savings
NZCU Auckland 1.75 Success Saver
Heretaunga Building Society 0.80 On Call
Heartland Bank 0.75 Heartland Direct Call
Heartland Bank 0.75 Heartland Business Call
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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 1.00 2.59 2.70
Kiwibank 0.05 - -
Kiwibank 0.50 - -
Nelson Building Society - - -
SBS Bank - - -
TSB Bank 0.35 0.36 0.38
Westpac 0.35 0.36 0.38
Westpac 0.05 0.10 0.11
Westpac 0.50 2.16 2.26

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