Rabo raises longer term deposit rates; 5 yr to 6.55%

Raboplus has increased its three, four and five year term deposit rates by between 10 and 25 basis points (bps), following moves by Kiwibank and BNZ earlier in the week. With interest paid at maturity, Rabo raised its three year term deposit rate by 15 bps to 5.6%; it's four year rate by 10 bps to 6.1%; and five year by 25 bps to 6.55%. These are now the highest term deposit rates offered by a bank in New Zealand for deposits with interest paid at maturity. See and compare all the new rates here.