Competition tight for 12-month terms
The competition for deposits in the 12-month to two-year space tightened this week as financial institutions hiked their offers to attract money maturing over the next two years.
Monday, May 10th 2010, 1:51PM
Allied Nationwide, whose parent wrote down the value of the remaining Hanover properties, hikes its 12-month rate 50 basis points, its 18-month rate 75 points, and its two-year rate by 25 basis points. Credit Union North lifted its 18-month and two-year rates by 25 basis points, while Westpac bumped up its 12-month term by 20 points.
Credit Union South lifted its 12-month term by 25 basis points, and cut its one- through three-month terms by 100 basis points, and removed its five-month term, while CBS Canterbury hiked its 12-month term by 20 points, and cut its three- and five-month terms by 25 points.
BNZ lifted its six-month term by 10 points, while Rabobank introduced a nine-month special of 4.85% and an 18-month special at 5.20%.
| « SCF sweetens rate for current investors | Marac charges up non-secured deposits » |
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