BNZ's turn to raise its rates
Tuesday, October 20th 2009, 7:00AM
BNZ has now followed the recent trend and raised its fixed term rates of two or more years for its Standard, Fly Buys and GlobalPlus products, however unlike ASB and Westpac, BNZ has left its six-month fixed rates unchanged. BNZ's biggest rate jump was to its two-year rate which climbed 40 basis points. Its three, four and five-year rates increased by 20, 25 and 15 basis points respectively.
BNZ also increased both its Classic and GlobalPlus 18-month terms by 30 points to 6.59% and 6.69% respectively.
It has only been three weeks since BNZ last raised its longer term fixed rates 30 basis points.
SBS Bank has made some small changes this morning with some of its fixed rates also. Its one-year rate has risen by 10 basis points to 6.00% and its three and five-year rates went up by 5 points to 7.80% and 8.70% respectively.
HSBC Premier has also now raised its fixed rates and like BNZ has left its six-month rates unchanged. Its changes are relatively major with its one-year rate going up by 30 basis points, its two-year rate rose by 49 points and its three, four and five-year rates went up by 34, 35 and 30 points respectively.
TSB Bank has nudged up its one-year rate by 10 points today to 5.90% and its four-year rate by 15 points to 8.35%. TSB's one-year rate is still just below the median rate for this term.
| « Westpac raises rates twice in one week | Yep, it's the two-year market for SBS » |
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