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Rates Update: FE offers special 1yr rate

FE Investments raised its one-year term deposit rate by 18 basis points to offer the highest rate of 10.18% for this term. The finance company is calling it spring rate special to mark the celebration of Chinese New Year in February and the rate is applicable for deposits over $5,000.

Monday, January 24th 2011, 5:00AM

by Sophia Rodrigues

Investors, however, need to take note of the fact that the company is unrated and thus it is difficult to assess the risk profile of this investment.

Among finance companies, Asset Finance made a rate move in contrast with FE Investments. The company cut one-year deposit rate by 75 basis points to now offer 8.75%. The new rate, however, still beats the 8.60% offered by NZF Money for deposits below $10,000. Both companies are B rated.

ASB once again tweaked its six-month deposit rate, raising it by 10 basis points after lowering it by the same quantum just a month back. But at 5.10%, the bank still lags behind RaboDirect's 5.15% if one is comparing rates offered by banks only.

Meanwhile, RaboDirect re-introduced its Bank-a-Rate specials last week offering 5% on three months, 5.70% on 18 months and 6.40% for three-year deposits.  Despite the premium offered on regular rates - nearly 45 basis points in case of three-month deposits - the bank didn't manage to sell 100% of the amounts it put on offer in each category.

« Heartland Bank brands align deposit ratesRaboDirect lone active bank in quiet term market »

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 ▼3.39
ANZ Special - ▼2.55 ▼2.69 ▼2.79
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
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 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
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 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 3.19 3.49
SBS Bank Special - 2.79 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 ▼2.69 ▼2.75 ▼2.99
The Co-operative Bank - Standard 4.40 ▼3.19 ▼3.25 ▼3.49
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 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.65 2.69 2.79
Median 4.55 3.19 3.22 3.39

Last updated: 9 July 2020 5:00am

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