New term deposit rates see NZ's largest bank offering the best 5 year rate of any bank, as wholesale rate increases push market up
20th Sep 13, 3:05pm
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ANZ has raise term deposit rates for all terms 18 months and longer.
The 50 bps increase in their 5 year rate takes the ANZ offer to the highest bank rate for that term in the New Zealand market.
The new rates are effective immediately.
Here is a summary of their rate changes:
These changes follow earlier increases by RaboDirect, Westpac and BNZ within the past month.
Wholesale rates have been moving up over the period, raising some mortgage rates, and these trends are being reflected in term deposit rates as well.
All term deposit rates for all institutions for terms less than one year are here, and for terms one-to-five years are here.
They position ANZ as set out in this table:
| for a $20,000 deposit | 6 mths | 1 yrs | 18 mths | 2 yrs | 5 yrs |
 |
3.75% | 3.85% | 4.20% | 4.50% | 5.50% |
 |
3.75% | 4.00% | 4.10% | 4.20% | 5.00% |
| BNZ | 3.80% | 4.00% | 4.20% | 4.40% | 5.30% |
| Kiwibank | 3.75% | 4.10% | 4.50% | 5.30% | |
 |
3.75% | 3.85% | 4.20% | 4.40% | 5.30% |
| Co-op Bank | 3.60% | 3.85% | 4.20% | 4.40% | |
 |
4.00% | 4.25% | 4.35% | 4.50% | 5.10% |
| HSBC Premier | 3.80% | 3.90% | 4.00% | 4.10% | 4.60% |
 |
3.85% | 4.00% | 4.15% | 4.40% | 5.20% |
| SBS / HBS | 3.80% | 4.10% | 4.20% | 4.20% | |
 |
3.80% | 4.00% | 4.20% | 4.25% | 5.00% |
Term deposit rates
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