The highest one year rate in the current market is now Rabobank's 6.15%.Īmong challenger banks, many - but not all - offer 6% or higher rates. But that 6% can be accessed at some of them for terms less than one year. Although with two main banks now over 6%, the pressure will be on many of them to restore their advantage over the main banks. These are the durations they have most of their rapidly rising term deposit funds parked in.ĪSB's Monday move coincides with the bank raising its two year home loan rate to 7.05%, the only bank now with that key mortgage term that high.Ĭhallenger banks are also moving their term deposit offers higher. But it is the one year and shorter terms that will attract kiwi savers. Not so much for borrowers.ĪSB is joining Kiwibank as another main bank offering a carded 6% one year term deposit rate.Īlready ANZ and Westpac had offered 6% for terms of 18 months and two years. Upon signing or during the window period of your term deposit, you can choose to be paid your returns by monthly, quarterly, six monthly or at the date of maturity.Spring is starting to bloom for savers. You can also deposit up to $10,000 or less for a term of 1 month. What’s great about HSBC is they don’t require administration fees on their term deposit schemes. You can earn as high as 0.80% per annum for a minimum deposit of $100,000.

HSBC offers term deposits from as short as 7 days up to a term of 5 years. They offer competitive interest rates that can help Kiwis with their daily spending and can open doors to start their own business.Īs an international banking firm, HSBC is stable and flexible when it comes to your investments.

It’s convenient and easy to access by opening an HSBC term deposit through internet banking or enquiring to one of HSBC’s investment agents. HSBC term deposit is open for anyone who wishes to expand their savings. Your savings account won’t cut it, you need to find a stable investment that you can use for other pecuniary obligations. Part of their mission is to give customers the right opportunities to help them save more. HSBC is your trusted financial solutions provider with over 64 branches worldwide.

Heartland bank term deposit rates