Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Kiwibank Supports Savers With Market-leading Term Deposit Special

Kiwibank is increasing its term deposit rates, including lifting its 100-day rate by 0.70% to a market leading 1.10%.

Head of Borrowing and Savings Chris Greig says Kiwibank exists to support the financial security of Kiwi by delivering long- term sustainable value and is offering these highly competitive term deposit options while balancing the needs of borrowers who have been benefiting from a low interest rate environment.

“We appreciate customers with savings are looking to maximise their returns, so Kiwibank is making this easier for them. We have a website form so those interested in our special rates can easily sign up. We’ll give them advanced notice of upcoming specials so they have time to arrange their finances or join Kiwibank. They’ll also get a reminder on the day the specials launch so they can take advantage of the offer and use our digital options to seamlessly open and manage their investment.”

Mr Greig said customers needed to act fast as the specials were only available for a very limited time.


Rate changes are effective from: Wednesday 19 May 2021 – Sunday 23 May 2021

Change applies to Business, PIE and Retail Term Deposits:

Interest Tier:$10,000+   $5,000 - $9,999
 Current RateNew RateChange Current RateNew RateChange
Interest paid at maturity      
100 days0.40%1.10%+0.70% 0.30%1.00%+0.70%

$1,000 - $4,999: No Change

Rate will revert back to old rate for Monday 24 May 2021

Term Deposits

Effective from: Monday 17 May 2021

Change applies to Business, PIE and Retail Term Deposits:

Interest Tier:$10,000+   $5,000 - $9,999
 Current RateNew RateChange Current RateNew RateChange
Interest paid at maturity      
6 month1.00%0.90%-0.10% 0.90%0.80%-0.10%
9 month0.80%0.95%+0.15% 0.70%0.85%+0.15%
1 year0.85%1.05%+0.20% 0.75%0.95%+0.20%
2 years0.90%1.15%+0.25% 0.80%1.05%+0.25%
3 years0.90%1.30%+0.40% 0.80%1.20%+0.40%
4 years0.90%1.50%+0.60% 0.80%1.40%+0.60%
5 years0.90%1.60%+0.70% 0.80%1.50%+0.70%
Interim interest     
1 year0.85%1.05%+0.20% 0.75%0.95%+0.20%
2 years0.90%1.15%+0.25% 0.80%1.05%+0.25%
3 years0.90%1.30%+0.40% 0.80%1.20%+0.40%
4 years0.90%1.50%+0.60% 0.80%1.40%+0.60%
5 years0.90%1.60%+0.70% 0.80%1.50%+0.70%

$1,000 - $4,999: No Change

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>