Raboplus, ASB and UDC made changes to term deposit rates on Thursday morning, with Rabo raising its one and two year deposit rates by 10 and 20 basis points (bps), respectively, but lowering three, four and five year rates by 5, 10 and 25 bps, respectively. ASB lowered its nine month term deposit rate from its fighting rate of 4.75% down to 4.40%. Earlier in the week ASB raised its five month term deposit rate to 4.60%, with the action in the currently focused around the four to six month deposit market. UDC also announced a number of deposit rate changes. For deposits over NZ$100,000 it lowered its one, two and three month rates by 10, 10 and 25 bps, respectively, while raising its four, five and 18 month rates by 10, 20 and 20 bps, respectively. For the NZ$5,000 tier, UDC lowered its three month rate by 15 bps, and raised four, five and 18 month rates by 10, 20 and 20 bps, respectively. See all term deposit rates for terms less than one year here, and terms one year and greater here.
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