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Raboplus raises deposit rates following RBNZ decision to hold OCR

Posted in News June 12, 2009 - 09:00am, Alex Tarrant

Raboplus was the first bank to break the silence following the Reserve Bank's decision to leave the Official Cash Rate on hold at 2.5% yesterday. Rabo announced it would increase its one through to five year term deposit rates by between 20 and 30 basis points (bps).

Rabo raised its one year deposit rate by 20 bps to 3.05%; its two year rate by 25 bps to 4.10%; three year by 25 bps to 5.35%; four year by 30 bps to 5.90%; and five year by 30 bps to 6.40%.

See all term deposit rates for terms less than one year here, and for terms one year and over here.

Click here to see Bernard Hickey's latest Mother-in-Law's guide to term deposit rates.

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by we are stuffed | 12 Jun 09, 2:45pm

5 years will be 10%

5 years will be 10% by Christmas:)

Rabo snubbing it's nose at Bollard. They did not need the Govt Guarantee and actually said they could guarantee the Government!