News

Banks cut cash PIEs to half OCR

Tuesday 9th of February 2016

The rates for the on-call funds have come down this month to as little as 1.25% for ANZ and BNZ. ASB is offering 1.4% through to 1.5% for those with more to invest and Westpac offers 1.5%.

But RaboDirect is offering 2.25% and Kiwibank will match that with its bonus rate.

The PIE structure caps the rate of tax paid at 28%, which means those who have a personal tax rate of 30% or mo...

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