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deposit rates

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.

Comments from our readers

On 19 August 2011 at 6:41 pm John Piggot said:
logging on to your web site, selecting News, there is a heading "Robobank still leading in rates comparison." It then gives a graph with Robobank showing 5.5% term deposit rate.
However the date of the item is 8 Mar 11.
Surely you should update your website to reflect the current situation/date!
Regards
J Piggot
piggot@xtra.co.nz
On 22 September 2011 at 10:20 pm Tony Shaw said:
his is way out of date and therefore totally irrelevant. Rabodirect's cuurent 12 month rate is 4.3% (standard interest), no compounding interest or PIE alternative. No better than any, and worse than some bank rates.
Commenting is closed

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