BNZ, Rabo boost long-term deposit rates

Rabo undid its reductions from last week, boosting its two-, three-, four- and five-year terms 30, 20, 15 and 10 basis points respectively. The bank also lifted its six-month deposit rate by 5 points and its 12-month offer by 25 points.

BNZ cut 5 points from its 12-month offer on deposits of $50,000 or more, 10 points from deposits of $10,000. On the smaller funding bracket, it bolstered its offer 15 points for 18-month terms, 25 points for two-year through four-year terms and sliced 10 points from its five-year offering. Its bonds mirrored this movement in the 18-month through five-year space, though it added 10 points on the 12-month terms.

Westpac raised its 12-month rate by 70 points and ASB increased its nine-month offer by 10 points while slashing 20 points from its six-month term, 15 points from its 12-month term, 10 points from its two and four-year offers and 25 points from its five-year deposits.