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deposit rates

Rates Update: ANZ lowers rates for second time in two weeks

Monday, 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 »

Rates Update: Rabo’s leadership remains unchallenged

Monday, February 28th, 9:10am

Sophia Rodrigues reports on some unusal moves from the banks in the term deposit rates space.

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Rates Update: F&P responds to PGG with sharp rate hikes

Monday, February 7th, 6:06pm

The week past saw some major rate changes in the non-bank deposit-taking space in what seemed to be a tussle between two equally rated finance companies.

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RaboDirect lone active bank in quiet term market

Wednesday, 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.

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Rates Update: FE offers special 1yr rate

Monday, 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.

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Heartland Bank brands align deposit rates

Monday, 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.

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Rates Update: Banks tweak short term rates

Monday, December 20th, 11:03am

 

Even as the short-term deposit rate space remains very competitive, banks continue to wax and wane with interest rates.

 

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Rates Update: TSB leads in one-year term

Monday, 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.

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Rates Update: Equitable puts focus back on NBDTs

Monday, November 29th, 10:35am

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Rates Update: BNZ maintains short term rate leadership

Monday, 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.

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Today's Best Bank Rates
Heartland Bank 2.50
Heartland Bank 2.50
Based on a $50,000 deposit    More Rates »
Today's Top 5 Deposit Rates
InstitutionRateProduct
NZCU Auckland 3.25 Success Saver
First Credit Union 3.00 Online Savings
Heartland Bank 2.50 Heartland Direct Call
Heartland Bank 2.50 Heartland Business Call
BNZ 2.20 Rapid Save - potential rate
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 0.40 0.41 0.42
ASB Bank 0.55 0.59 0.56
ASB Bank 0.60 0.61 0.64
ASB Bank 0.65 0.66 0.69
ASB Bank 0.70 0.72 0.75
BNZ 0.10 0.10 0.10
Heartland Bank 2.25 2.59 2.70
Kiwibank 0.75 0.77 0.88
Kiwibank 1.75 1.81 1.89
Nelson Building Society 3.75 3.90 4.08
SBS Bank 1.50 - -
TSB Bank 1.60 1.64 1.71
Westpac 0.35 0.36 0.38
Westpac 0.10 0.10 0.11
Westpac 2.10 2.16 2.26

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