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Allied Nationwide ramps up longer-dated deposit rates

Allied Nationwide, whose parent company bought the Hanover and United loan books in a debt-for-equity swap last year, has led the charge for longer-dated money this week, and boosted its deposit rates for terms of more than a year.

Monday, June 7th 2010, 8:55PM

by Paul McBeth

Allied hiked its 12-month through five-year rates by 50 basis points, and introduced a nine-month special of 7.50%.

NZF's Finance Direct moved its 18- and two-year rates twice in the week for a net gain of 95 basis points and 50 points respectively, while hiking its 12-month term 125 basis points.

Oxford Finance lifts rates across the board, raising its three-month, six-month, 12-month, 18-month and two-year rates by 50 points each, while Nelson Building Society increased its six-month term by 10 points.

CBS Canterbury and SBS, which both announced they had entered talks with Pyne Gould's Marac about a potential merger to form a new bank, moved rates in opposite directions this week. CBS hiked its nine-month $1,000 deposits by 25 points, and its three-year $5,000 deposits by 65 points, while SBS cut its six month terms by 5-points and its 12-month terms by 25 points.

ASB boosted its six- and nine-month terms by 80 and 90 points, while cutting its five-month term by 110 points, while ANZ raised its six-month term by 10 basis points.

 

Paul is a staff writer for Good Returns based in Wellington.

« Bublitz's Mutual Finance ramps up ratesSome TDs rise with home loan rate increases »

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 ▼3.85 ▼3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 ▼2.93 ▼3.07 ▼3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.45 2.99 3.35
SBS Bank 4.54 ▼3.05 3.19 ▼3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - ▼2.55 2.69 ▼2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 ▼2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 ▼3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.05 3.13 3.12

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