Raboplus raises term deposit rates (Update 1)

Raboplus raises term deposit rates (Update 1)
In some positive news for savers, Raboplus announced it had raised all its term deposit rates by between 5 and 165 basis points (bps) on Wednesday morning, although the larger moves were for terms less than one year. Longer term rates moved by between 5 and 15 bps. (Update 1 includes PGG Wrightson changes.) The changes are: One month: up 30 bps to 3.00% Three month: up 165 bps to 4.30% Six month: up 165 bps to 4.25% One year: up 5 bps to 2.80% Two year: up 10 bps to 3.65% Three year: up 15 bps to 4.80% Four year: up 15 bps to 5.30% Five year: up 15 bps to 5.75% See our term deposit rates for terms less than one year here, and for terms one year and greater here. PGG Wrightson Finance also announced that it had raised its one year term deposit rates by 30 bps. Deposits below NZ$10,000 will have a rate of 4.70%; deposits between NZ$10,000 and NZ$100,000 will have a rate of 4.90%; and terms over NZ$100,000 will get 5.00%. PGG also introduced an 18 month term deposit at 5.95% (below NZ$10,000), 6.15% (NZ$10,000 to NZ$100,000), and 6.25% (over NZ$100,000).

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?

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.