ASB has raised term deposit rates today at the same time it raised its variable mortgage rates.
It will raise all rates for all terms from 1 month to one year from Monday, June 16, 2014.
One and two month term deposit rates are to go up by +25 bps to 3.25%.
Three month term deposit rate was also raised by +25 bps to 3.50%.
Four and five month rates are up 15 bps to 3.65%.
Six and nine moth rates are also now higher by 15 bps to 4.15% each.
ASB's one year term deposit has been raised to 4.35%, also up +15 bps from 4.20%.
Yesterday, ANZ raised its Serious Saver bonus saver rate by 25 bps to 4.50%.
And Co-operative Bank also raised some short term TD rates when they upped their floating rate yesterday.
Use our deposit calculator to figure exactly how much benefit each option is worth; you can assess the value of more or less frequent interest payment terms, and the PIE products, comparing two situations side by side.
All term deposit rates for all institutions for terms less than one year are here, and for terms one-to-five years are here.
This positions the ASB offers as follows as at June 13, 2014:
| for a $20,000 deposit | 6 mths | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
4.00% | 4.20% | 4.75% | 5.00% | 5.25% | 5.75% |
 |
4.15% | 4.35% | 4.50% | 4.75% | 5.00% | 5.50% |
 |
4.00% | 4.25% | 4.50% | 4.75% | 5.00% | 5.50% |
| Kiwibank | 4.00% | 4.35% | 4.75% | 5.00% | 5.75% | |
 |
3.75% | 4.00% | 4.30% | 4.75% | 5.00% | 5.50% |
| Co-op Bank | 4.20% | 4.40% | 4.70% | 4.85% | 5.10% | |
 |
4.00% | 4.50% | 4.50% | 4.75% | 5.50% | 5.50% |
| HSBC Premier | 3.65% | 3.90% | 4.00% | 4.50% | 4.65% | 5.15% |
 |
4.25% | 4.35% | 4.75% | 5.00% | 5.25% | 5.65% |
 |
4.20% | 4.40% | 4.60% | 4.85% | 5.10% | |
| TSB Bank | 4.00% | 4.25% | 4.50% | 4.75% | 5.00% | 5.75% |
Term deposit rates
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2 Comments
I have been watching the rates for on call bonus savings accounts, and although the OCR has gone up 75 points this year, most banks have only pasted on 25 points, including the ASB. These should be at least 4.5% I see ANZ has passed on 50 points, although it doesn't apply until next month.
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