TSB drops two-year fixed rate

Managing director Kevin Rimmington said the bank remained unaffected by the comings and goings on worldwide financial markets – and was determined to pass the benefits of this on to New Zealanders.

“TSB Bank’s ownership, funding and investment strategy means it has been effectively shielded from the flow-on effects experienced by many of the multinational banks.”

“All our funding is obtained from within New Zealand – we rely on the deposit support of our customers. Right now, we’re experiencing record levels of funds growth.” Rimmington said

TSB Bank’s investment strategy had always been somewhat conservative - and largely home loan focused.