To close off last week, TSB made changes to all but its one-year fixed interest rates. Its floating rate rose 30 basis points to 6.29% which is now above the median rate for all banks but still lower than Westpac and HSBC. TSB also increased its six-month rate by 25 points. Its long-term fixed rates of two years or more dropped between 5 and 10 points.
NZF raised both its floating and six-month rates last Friday by 25 basis points each and added 5 basis points to its one-year fixed rate. NZF also made quite significant cuts to its long-term rates of 35 points off its two-year, 20 points from its three-year and its four and five-year rates dropped 15 and 10 points respectively.
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