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 - $9,999Current RateNew RateChangeCurrent RateNew RateChangeInterest paid at maturity100 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 2021Term Deposits
Effective from: Monday 17 May 2021
Change applies to Business, PIE and Retail Term Deposits:Interest Tier:$10,000+$5,000 - $9,999Current RateNew RateChangeCurrent RateNew RateChangeInterest paid at maturity6 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 interest1 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