First finance company with crown guarantee

The Reserve Bank has approved the first non-bank institutions for the Deposit Guarantee Scheme. NZF Money and PSIS have both had their applications approved, and the Crown Deed of Guarantee for them has been signed. They are set to apply until 11 October 2010. NZF Money currently offers a one year term deposit at 10.10%. PSIS offers a one year term deposit at 7.30%. The full offerings of both institutions can be found here. At the same time, HSBC was also approved. There are now ten institutions that have the Crown guarantee in place. Many more are awaiting approval. The status of each can be found here.