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Rates Update: ANZ lowers rates for second time in two weeksMonday, March 14th, 11:41am
Much of the news last week was on cuts to home loan rates after the Reserve Bank announcement. However, term deposit rates followed mortgage rates down. Sophia Rodrigues looks at what has happened.It was another hectic week for deposit rates with non-bank deposit taking institutions lowering their rates after taking cues from the main banking institutions, and others making some more adjustments to their rates. The Reserve Bank, as expected, lowered its official cash rate by 50 basis points to 2.50% to match the previous record low. The most surprising move came from ANZ and The National Bank by the end of last week when they lowered deposit rates for the second time in two weeks for terms up to two years ...MORE »
Previous News
RaboDirect lone active bank in quiet term marketWednesday, February 2nd, 5:00am
There was a lull in the term deposit space last week with no institution announcing any change to the interest rates. MORE »Rates Update: FE offers special 1yr rateMonday, January 24th, 5:00am
FE Investments raised its one-year term deposit rate by 18 basis points to offer the highest rate of 10.18% for this term. The finance company is calling it spring rate special to mark the celebration of Chinese New Year in February and the rate is applicable for deposits over $5,000. MORE »Heartland Bank brands align deposit ratesMonday, January 17th, 7:00am
The past month has been quiet on the deposit rate front after a hectic period of intense competition in the short-term space. MORE »Rates Update: Banks tweak short term ratesMonday, December 20th, 11:03am
Even as the short-term deposit rate space remains very competitive, banks continue to wax and wane with interest rates. MORE » Rates Update: TSB leads in one-year termMonday, December 13th, 11:00am
It was a relatively quiet week on the deposit rate front but one that still saw TSB emerging as the market leader for the first time in many months. MORE »Rates Update: Equitable puts focus back on NBDTsMonday, November 29th, 10:35am
Rates Update: BNZ maintains short term rate leadershipMonday, November 8th, 9:53am
It is not very often that one sees a market leader hike its deposit rates when the competitors are still some way off. But that's exactly what Bank of New Zealand did last week when it raised its five-month deposit rates by five basis points - a term where the bank has been a leader for some months now. MORE » |
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