The average rate for a six month term deposit was 3.26 per cent in March down from 3.28 per cent a year earlier, according to Reserve Bank figures. Westpac New Zealand's half year result to. 1 Month Rate vs Other New Zealand Banks Westpac NZ 1 Month Term Deposit Rate indicated is for a period between 30 to 59 days, with a minimum of $10,000 minimum deposit required. Minimum $5,000 deposit. Rates are not available to financial institutions. Rates are available for Retail and Business Banking customers and apply up to the first $5,000,000 of deposits held either solely or jointly with Westpac New Zealand Limited. Interest rates are subject to change without notice. Westpac's home loan lending criteria and terms and conditions apply. An establishment charge may apply. A low equity margin may apply. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria.

Westpac Term Deposit Rates Nz Credit Unions

DepositRates.co.nz has compiled a table showing the rates on offer from the various PIE funds.

Friday, 18 July 2008

Cash PIE funds are the perhaps the hottest investment around at the moment with many of the banks rolling out products in the past couple of months.

Depositrates.co.nz has compiled a table comparing the rates on offer both from call funds and also from ones which have a fixed term.

The table has the advertised rate, then the effective gross rate for 33% and 39% taxpayers. It also includes the minimum investment amounts which vary considerably . In addition to what is shown Forsyth Barr has higher rates for amounts of more than $20,000, $50,000 and $250,000.

Likewise Kiwibank are offering increased rates if no withdrawals are made.

We have expressed the effective rates as they are portrayed by the providers. However a point investors should be aware of is how the rate is compounded. There are three options; Compounding daily, monthly, or interest at maturity. Each changes the final amount. Also, while these funds are promoted as benefiting those on 33% and 39% tax rates there are also benefits for people on lower marginal rates.

'The PIE also increases the gross return for those on 30% and 19.5%,' Direct Broking marketing manager Julian Grainger says. 'Not much mind you; we're only talking a couple of basis points. But if you're a retiree every point counts.'

He says a 19% taxpayer with $100,000 is likely to get around $50 extra annually.

Currently there are only two providers with fixed term products, ANZ-owned finance company UDC and Kiwibank.

UDC starts a new fund each month. Currently it is taking subscriptions for the fund which starts on August 1. The rates are shown in the table below.

It's worth noting the rates are lower than what it offered in the 12 month-term fund started a month earlier. The rates for that one were 8.90%, 9.29% and 10.21% respectively.

The rates published are compiled from each providers own information.

For a full comparison table, click here.

Commenting is closed

Westpac Nz Term Deposit Rates 2020

Printable version

Email to a friend

Term Deposit Interest Rates Nz

I found Glimp when I was looking for Internet Providers that I would have to sit through and compare myself. I at first thought Glimp was an Internet provider but then I was pleasantly surprised when they came up as a website solely for comparing all sorts of different things so the customer could find the best deal. I found my new Internet provider on there and even found out I could be with a better Power company then the one I am with now. Very Useful and I recommend Glimp to the bargain hunters!