RaboDirect still leading in rates comparison
Tuesday, 8 March 2011
The past week has seen major banks making cuts to their deposit rates in anticipation of a rate cut by the Reserve Bank of New Zealand this month.
The above graph shows the 12-month rate for a min $10,000 for each bank.
The cuts to the 12-month term deposit rate over the past week have been from 35 basis points through to as much as 60 basis points however RaboDirect, who have had the lead rate in this term for quite sometime, remained unchanged.
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