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Term deposit rates are slowly spiraling down as household bank accounts get flusher faster than loan demand. The DCS isn't helping either

Term deposit rates are slowly spiraling down as household bank accounts get flusher faster than loan demand. The DCS isn't helping either

Sub 4% rates become pervasive among the major banks. The challenger banks are mostly still in the 4%+ range. And finance companies are still largely offering 5%+ rates. All for DCS guaranteed security

Sub 4% rates become pervasive among the major banks. The challenger banks are mostly still in the 4%+ range. And finance companies are still largely offering 5%+ rates. All for DCS guaranteed security

BNZ jumped the gun with a -25 bps floating rate cut, ANZ, ASB only cut -20 bps, and now Westpac only passes on -15 bps of the OCR cut, as does Kiwibank

BNZ jumped the gun with a -25 bps floating rate cut, ANZ, ASB only cut -20 bps, and now Westpac only passes on -15 bps of the OCR cut, as does Kiwibank

The Co-operative Bank announces floating rate cut from its already market-leading low, to under 6%. The change is immediate for new customers, but in two weeks for existing ones

The Co-operative Bank announces floating rate cut from its already market-leading low, to under 6%. The change is immediate for new customers, but in two weeks for existing ones

As term deposit offer rates sink, real after-tax, after-inflation yields are vanishing. Taxpayer guarantees reducing the risk premiums aren't helping. Savers are barely breaking even, making short term TD's a poor investment

As term deposit offer rates sink, real after-tax, after-inflation yields are vanishing. Taxpayer guarantees reducing the risk premiums aren't helping. Savers are barely breaking even, making short term TD's a poor investment

ANZ pushes down term deposit rates, seemingly confident rivals will follow even though the gap with those rivals is unusually wide. Kiwibank follows with comprehensive cuts. Low loan demand bolsters their shift

ANZ pushes down term deposit rates, seemingly confident rivals will follow even though the gap with those rivals is unusually wide. Kiwibank follows with comprehensive cuts. Low loan demand bolsters their shift

Although most rate changes focused on home loan floating and savings account rates, there was a first trimming of term deposit rates by SBS Bank. They won't be the last

Although most rate changes focused on home loan floating and savings account rates, there was a first trimming of term deposit rates by SBS Bank. They won't be the last

Banks quick out of the blocks with cuts to floating home loan rates - and they are also cutting savings account rates

Banks quick out of the blocks with cuts to floating home loan rates - and they are also cutting savings account rates

Savers are increasing balances at banks at almost twice the rate borrowers are taking out loans. Banks are under no pressure and are trimming TD rates in small amounts regularly now

Savers are increasing balances at banks at almost twice the rate borrowers are taking out loans. Banks are under no pressure and are trimming TD rates in small amounts regularly now

Another week, more term deposit rate cuts led by some large & some challenger banks. The arrival of sub-4% rates spread, and rate inversions narrow

Another week, more term deposit rate cuts led by some large & some challenger banks. The arrival of sub-4% rates spread, and rate inversions narrow

The ground is about to sink faster for savers. ANZ brings back a TD rate starting with a '3', and now only one bank offers a rate starting with a '5'

The ground is about to sink faster for savers. ANZ brings back a TD rate starting with a '3', and now only one bank offers a rate starting with a '5'

Banks quick out of the blocks with cuts to floating home loan rates - and they are also cutting savings account rates at the same time

Banks quick out of the blocks with cuts to floating home loan rates - and they are also cutting savings account rates at the same time

Banks continue tweaking their term deposit offers with Kiwibank (down & up), and BNZ (down) the latest to move. These changes leave ANZ top of that main bank heap with its six month offer

Banks continue tweaking their term deposit offers with Kiwibank (down & up), and BNZ (down) the latest to move. These changes leave ANZ top of that main bank heap with its six month offer

Banks trim term deposit rate offers further with no main bank now offering a 5% rate

Banks trim term deposit rate offers further with no main bank now offering a 5% rate

Banks trim term deposit rate offers in slow and steady track, shortening the terms for where their peak rates are pitched. But there are exceptions and options

Banks trim term deposit rate offers in slow and steady track, shortening the terms for where their peak rates are pitched. But there are exceptions and options