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RaboPlus lifts on call and term deposit interest

MEDIA RELEASE Thursday 14 February 2008

RaboPlus lifts on call and term deposit interest rates

Wellington – Online banking service www.RaboPlus.co.nz has raised its On Call Interest rate to 8.25% and it’s Term Deposit interest rates by up to 0.30%, effective immediately.

Managing director Mike Heath said the rise reflects RaboPlus’ continued promise to provide best returns for investors.

“Our rate rises are also a welcome present to our existing customers and new customers alike on Valentines Day,” said Mr Health.

RaboPlus has a strong record as a market leader in On Call and Term Deposit interest rates for smart and savvy investors.

“We are pleased to continue to offer among the highest rates available in this area,” Mr Heath said.

Selected term deposit rates have risen as follows:


Product New rate from Feb 13 Previous rate

On Call 8.25% 8.20%

1 Year 8.75% 8.70%

2 Year 8.45% 8.25%

3 Year 8.15% 8.00%

4 Year 8.10% 7.90%

5 Year 8.05% 7.75%


RaboPlus is an online banking service designed to complement customers’ existing banking arrangements. RaboPlus offers New Zealanders a high interest, no fees, on-call savings account as well as term deposits and access to managed funds.
RaboPlus is a division of Rabobank New Zealand Limited, part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 100 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank has the highest possible credit ratings from both Standard & Poor's (AAA) and Moody's Investor Service (Aaa), and has held these Triple A ratings for over 25 years. Rabobank is also ranked one of the world's safest banks by Global Finance magazine. Rabobank operates in 42 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches. Rabobank is among the 20 largest banks in the world based on tier one capital. In New Zealand Rabobank employs approximately 211 staff across 29 branches to service its clients. Thirteen staff, including a Wellington based call centre, support RaboPlus customers.
RaboPlus is the winner of Best Online Savings Account, Best 90 Day Term Deposit and Best One Year Term deposit at the 2007 Sunday Star Times, Cannex Banking Awards. RaboPlus also won the Emerging Business Award at the 2007 NZ Marketing Magazine Marketing Awards, and won the Gold in New Product or Service Introduction and the Best in Show award at the 2007 Effies (Advertising Effectiveness Awards).

ends

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