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F&P Finance ups long rates

The week has ended with more increases in term investment rates. Fisher & Paykel Finance has raised medium to long term rates and ANZ National has moved its shorter term rates.

Friday, July 3rd 2009, 9:06AM

Fisher and Paykel's increases are quite significant and puts them back to a level not seen for some time.

The smaller increase was to two-year debenture rates which increase 25 points to 7.50%. Its three, four and five years rates rise 50 points each to 8.50%.

Also during the week the company's parent, Fisher and Paykel Appliances, said it wasn't looking to sell the finance company.

At the other end of the yield curve ANZ and National Bank both tweaked their short term deposit rates.

The changes are to here, five and six month rates for amounts of $10,000 or more.

Both banks are offering 3.75% for three month money, while ANZ is offering 4.50% for six months compared to NBNZ's 3.50%.

NBNZ has increased its five-month rate to 4.50%.


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