Kiwibank has cut some term deposit interest rates today with ASB increasing one, closely following changes by BNZ and Westpac late last week.
Kiwibank has cut its six month rate for minimum deposits of NZ$10,000 by 25 basis points to 4.25% and its 200 day rate by 5 basis points to 4.25%. It has also introduced a 4.30% nine month rate. For minimum deposits of NZ$5,000, Kiwibank has cut its six month rate by 25 basis points to 4.15% and introduced a 4.20% nine month rate.
ASB has increased its four month rate by 85 basis points to 4.10% and removed its 100 day 4.10% rate.
Westpac has increased its six month rate by 25 basis points to 4.25%, and BNZ has cut its five and six month rates by 40 basis points and 25 basis points, respectively, to 3.60% and 4.25%.
The BNZ rates are for minimum deposits of NZ$5,000 and the rest for minimum deposits of NZ$10,000 (excluding the above mentioned Kiwibank NZ$5,000 minimum). See all advertised bank term deposit rates here.
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.