RaboPlus lifts interest rates on term deposits

14 June 2007

RaboPlus lifts interest rates on term deposits

Wellington – Online banking service, RaboPlus, has raised interest rates on its on-call account and all term deposits with effect from today.

General Manager Mike Heath said the rise shows RaboPlus has passed on positive movement in the wholesale markets to its retail customers.

“We continually aim to offer the best possible rates to our customers and to do so as quickly as possible.”

RaboPlus’ record as a market leader was recognised in April this year when it scooped the three categories it was nominated for in the Sunday-Star Times Cannex Banking awards, winning Best 90-Day Term Deposit, Best 1-Year Term Deposit and Best Online Savings Account.

“While the awards showed that we have top quality offerings, we don’t sit on our laurels, and will continue to offer amongst the most attractive rates to all New Zealanders,” said Mr Heath.

RaboPlus’ on call rate has risen to 7.75%, from 7.60%, while increases can be seen across the term deposit rates as follows:

Term Deposit length New rate from June 14 Previous rate

30 Day 8.00% 7.80%
90 Day 8.15% 8.00%
180 Day 8.25% 8.10%
1 Year 8.45% 8.30%
2 Year 8.30% 8.15%
3 Year 8.20% 8.00%
4 Year 8.10% 7.90%
5 Year 8.00% 7.80%

Rabobank Australia & New Zealand is a 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 a AAA credit rating and is rated one of the world’s safest bank by Global Finance magazine. Rabobank operates in 43 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches.

Rabobank Australia & New Zealand is one of Australasia’s leading rural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 75 branches throughout Australasia. RaboPlus’ latest accolade is winning three awards in the Sunday Star Times Cannex Banking Awards for 2007: Best Online Savings Account, Best 90-day Term Deposit, and Best One-year term deposit.

ENDS

© Scoop Media