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Kiwibank Announces Changes To Term Deposit And Home Loan Rates
Following the RBNZ Monetary Policy Statement last week, Kiwibank is making changes to both its fixed home loan rates and its term deposit rates.
Kiwibank Senior Manager – Savings and Borrowing, Richie McLay says: “While we are first to move on this occasion, we aim to remain competitive in the market so both our lending and savings customers are getting a fair deal. We know the low interest rate environment has been challenging for some customers who rely on returns from savings, the higher term deposit rates on offer provide a lower risk option for steady returns.”
Kiwibank challenged the market in 2020 by significantly lowering its variable rates. Even with its latest increase, the New Zealand-owned bank’s floating rates are still below three of the majors, underlining its commitment to supporting more Kiwi to realise their home ownership goals.
Term Deposits
Headline rate: 3.15% p.a for one year. Minimum $10k investment.
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