Kiwi Bond Interest Rates

The New Zealand Debt Management Office announced today that the one-year Kiwi Bond interest rate is to increase by 0.25% and that the two-year and the four-year Kiwi Bond interest rates are to increase by 0.50%. These rate changes will be effective from 11 September 2003.

Kiwi Bond interest rates are set periodically from the moving averages of domestic wholesale rates. These changes have been made in response to recent changes in wholesale market interest rates.

The new rates are as follows:

For subscriptions of $5,000 - $250,000

Maturity Rate

6 months 4.50 percent per annum

1 year 4.75 percent per annum

2 years 5.00 percent per annum

4 years 5.25 percent per annum

For subscriptions of $1,000 - $4,900

Maturity Rate

6 months 4.00 percent per annum

1 year 4.25 percent per annum

2 years 4.50 percent per annum

4 years 4.75 percent per annum

© Scoop Media