Term Deposit Reviews - RaboPlus NZ

Reviewer: Steve

Can you match Kiwibank's 1 yr term deposit @5.1% paid monthly on $5000 Rabo: - 3.25% Why so uncompetitive?

Mike Heath: Steve clearly I have no influence over what Kiwibank is paying for retail deposits. What I do know is that the rates we offer are based upon the cost of raising deposits in the wholesale market, which typically would be more expensive than the retail rates – clearly some banks are paying significantly more for retail funds at present.

Reviewer: Dean Wensor

RABO – your rates used to be highly competitive? What’s happened? ASB Term fund 6mths @5%(PIE 38% = $5.64%) KiwiBank, Nat Bank, BNZ 6mths @4.60% (PIE 38% = 5.19%) Time to take my $ elsewhere it seems?

Reviewer: Bob Bell

Agree with the other postings on here. Star rating drops to one star. Bank Direct currently offering 5% for 6 months.

Reviewer: John

Raboplus term deposits on holiday. Star rating falls.

Reviewer: Howard

Raboplus rerated to one star on 7 October 2009

Reviewer: Alan Beszant

Your interest rates are too low on your term deposits. I will use other banks until you better their rates as you used to do. I have good amounts to invest but at the best rates I can find. Alan

Reviewer: Michael

When are you going to match your competitors' 4.6% for 6 months?

Reviewer: John Bourke

Come on sharpen your pencils, lads.

Reviewer: Richard Wallace

Your rates are very poor when compared to other banks.

Mike Heath: Richard, clearly you are correct when talking about 1 month to 2 year TDs. However we lead the market for On Call and TDs for 3 to 5 years.