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KPMG: Longer term deposits the way to go

Thursday 24th of April 2008
Much of the activity in the term deposit market is still in the 90-day area. However KPMG notes, in its latest annual survey of the banking sector, that there are some good rates for depositors willing to go to, say a two-year term.

ASB Bank is offering 9% for that period – and others are offering 8.9% or near to it. Few economists expect the 90-day rate to be anything like 9% in April 2010....

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