Term deposit war heats up as Westpac raises 5 mth to 4.5%
25th Jun 09, 10:04am
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Westpac raised its five month term deposit rate on Thursday morning by 25 basis points to 4.50%. The rate is for deposits over NZ$5,000. The raise follows a similar move by BNZ on Tuesday, although BNZ's 4.50% five month rate is for deposits over NZ$10,000. The rate is currently the highest offered by a bank for a five month term deposit. The average five month rate is for the NZ$10,000 tier level is 3.74%. See and compare term deposit rates (one year and over) here. And here (less than one year).
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