sign up log in
Want to go ad-free? Find out how, here.

Cuts of 10 to 30 basis points to 1 to 5 year term deposit rates from ANZ

Personal Finance
Cuts of 10 to 30 basis points to 1 to 5 year term deposit rates from ANZ

ANZ has become the second major bank to cut term deposit interest rates this week with reductions of between 10 and 30 basis points to its one to five-year rates.

The cuts, effective today, see ANZ's one-year rate cut 10 basis points to 4.40%, its 18 month rate cut 10 basis points to 4.50%, its two year rate cut 10 basis points to 4.60%, its three year rate cut 30 basis points to 4.70%, its four year rate cut 30 basis points to 4.80%, and its five year rate cut 30 basis points to 5.00%.

The ANZ term deposit rate cuts follow a range of cuts from BNZ on Monday.

See all advertised, or carded, term deposit rates for 1 to 9 months here and see all advertised term deposit rates for 1 to 5 years here.

 

The ANZ term deposit rate cuts come against a backdrop of recent falls in swap rates. And in a global environment of low interest rates, 2015 is expected to offer borrowers better deals than savers.

 

 

 

 

 

 

 

Daily swap rates

Select chart tabs

Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.

1 Comments

Bank economists are now realising that consumers will be using their petrol/gas savings for further debt repayment and savings. 

So, less money being spent, less tax, less borrowing,   .... Frustrating when the things keep sinking lower.   

Up
0