Kiwibank Term Deposit Rates
ASB and BNZ announced their changes on Friday morning, with the new rates effective immediately.
The advertised rate on the day the term deposit was opened, for the number of days the money was actually invested, less 2%. Visit our breaking a term deposit early page for more details. PIE Term Deposit early termination charge: You can't break your PIE Term Deposit. Kiwibank 1 Year Term Deposit Rate: 2.75%. Kiwibank 5 Year Term Deposit Rate: 2.75%. Write a Kiwibank Review It only takes less than a minute! Your anonymous review will help. Kiwibank - 12 months. Kiwibank - 12 months. 1.3% Minimum deposit. Interest earned. How should I compare term deposit. With rates likes this we can’t hold them for long so register for Book-A-Rate alerts to be the first to hear about new rates. Book-A-Rate is the place to reserve your next great Kiwibank Term Deposit deal. Term Deposits Interest Rates. With this interest rates table, you can use the arrows to sort by various options such as interest rate, provider, amount and rating. Rates changes from the past seven days will be highlighted in green or red. View Cash PIE and Term PIE rates here. NEW: Click on a provider's name or logo to see all their rates.
BNZ has also cut its two year classic home loan to 2.59%, level with ASB and SBS.
BNZ's standard one year is available at 2.89%, and standard two year at 3.19%.
Kiwibank has announced a one year special at 2.35%, slightly more pricey than its bigger rivals. Its standard one year drops to 3.2%, with changes effective on Monday.
Shorter term rates continue to drop in 2021, despite economists' predictions that the official cash rate will no longer fall to negative territory.
With the Reserve Bank's Funding for Lending Programme, downward pressure on interest rates is likely to continue in the first part of the year.
ASB, BNZ, ANZ and Westpac now all offer the same 2.29% one year special rate, but the Kāinga Ora First Home Loan special (2.25%), HSBC Premier (2.25%), and Heartland's online mortgage (1.99%), remain cheaper, albeit with conditions attached.
Kiwibank Pie Term Deposit Rates
As shorter term rates keep falling, economist Tony Alexander believes there's 'nothing of immediate import to suggest that borrowing costs facing home buyers will be rising in the near future'.
Kiwibank Term Deposit Rates Calculator
In his latest market update, Tony Alexander said the RBNZ would want to 'get the pace of economic growth cracking along by making money cheap and encouraging people to borrow and spend'.