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Kiwibank Term Deposit Rate Changes
Kiwibank is increasing its term deposit rates, including lifting its popular one year rate by 0.20% to 3%, the highest it has been since August 2019.
Senior Manager of Borrowing and Savings Richard McLay 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 managing the needs of borrowers who are also experiencing a rising 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.”
Term deposit rate changes effective: Monday 9 May
| Interest Tier: | $10,000+ | $5,000 - $9,999 | |||||
| Current Rate | New Rate | Change | Current Rate | New Rate | Change | ||
| 6 months | 2.15% | 2.30% | 0.15% | 2.05% | 2.20% | 0.15% | |
| 200 days | 2.15% | 2.30% | 0.15% | 2.05% | 2.20% | 0.15% | |
| 1 year | 2.80% | 3.00% | 0.20% | 2.70% | 2.90% | 0.20% | |
| 2 years | 3.40% | 3.65% | 0.25% | 3.30% | 3.55% | 0.25% | |
| 3 years | 3.55% | 3.80% | 0.25% | 3.45% | 3.70% | 0.25% | |
| 4 years | 3.65% | 3.80% | 0.15% | 3.55% | 3.70% | 0.15% | |
| 5 years | 3.75% | 4.00% | 0.25% | 3.65% | 3.90% | 0.25% | |
| Interim interest | |||||||
| 1 year | 2.80% | 3.00% | 0.20% | 2.70% | 2.90% | 0.20% | |
| 2 years | 3.40% | 3.65% | 0.25% | 3.30% | 3.55% | 0.25% | |
| 3 years | 3.55% | 3.80% | 0.25% | 3.45% | 3.70% | 0.25% | |
| 4 years | 3.65% | 3.80% | 0.15% | 3.55% | 3.70% | 0.15% | |
| 5 years | 3.75% | 4.00% | 0.25% | 3.65% | 3.90% | 0.25% | |
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