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Term deposit rates rising

ANZ National lifted its term deposit rates across the board, ignoring talk of a deeper cut in the official cash rate in New Zealand on April 30 as it strives to attract savings at rates well above wholesale market rates.ANZ National yesterday increased its three-month term deposit rate to 4.25 per cent from 3.5 per cent, which was above directly comparable rates from other banks, although in line with some of their 100-day and four-month specials. ANZ National also lifted its five-year term deposit rate to 6.0 per cent, matching rates offered by Westpac, BNZ and Kiwibank.Interest.co.nz

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