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Reader poll

Should you fix your mortgage now or stay floating?

Choices

Westpac's 'chopper' rate aims to trump Kiwibank's 'TD Tuesday'

Posted in News May 26, 2009 - 11:50am, Alex Tarrant

In a sign that the term deposit war may be firing up again, Westpac today moved to try and trump Kiwibank's offer of 4.75% for a 100 day term deposit by introducing a new short term 'chopper' rate of 4.8% for 70 days. To be eligible for the rate, a customer must donate at least NZ$5 to the Westpac Rescue Helicopter. Like Kiwibank's offer, the new Westpac rate will be available for four days. Kiwibank marketed its special rate through its 'TD Tuesday' campaign.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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by Wally | 26 May 09, 12:43pm

And next up joining the

And next up joining the rush for cash will be?????

by rbot | 26 May 09, 1:55pm

westpac always reacts to kiwibanks

westpac always reacts to kiwibanks initiatives - trying to stop some customer slippage

by Bobby | 26 May 09, 2:13pm

Wally, I would be interested

Wally, I would be interested in your opinion of what you think is going to happen in the next year re interest rates, $NZ, economy etc. You seem to be a wise person. Cheers

by Juffy | 26 May 09, 2:42pm

Earlier this month I asked

Earlier this month I asked Westpac to match Kiwibank's one year rate for 100K deposit. They did.

by jill | 26 May 09, 3:34pm

The next greedy bank in

The next greedy bank in with 5% gets my money and its plenty i have been waiting for the banks to get the cactus out of their pockets.