Public Trust and Southern Cross Building Society announced a range of term deposit and mortgage rate increases on Wednesday morning, mostly for longer term rates. The move follows term deposit rate increases by UDC on Tuesday. For term deposits above NZ$10,000, Public Trust raised its three year rate by 5 basis points (bps) to 3.20% 4.20%; its four year rate by 20 bps to 4.65%; and five year by 30 bps to 5.00%. For term deposits between NZ$5,000 and NZ$9,999, Public Trust raised its three month rate by 20 bps to 3.70%; and its one, two, three, four, five year rates, as well as its 18 month rate, by 25 bps to 3.00%. It raised its four year mortgage rate by 15 bps to 7.50%, and its five year mortgage rate by 22 bps to 7.90%. Also on Wednesday morning, Southern Cross Building Society raised its three year mortgage rate by 15 bps to 6.90%, and its three month term deposit rate by 50 bps to 4.50%. To see term deposit rates offered in New Zealand for terms less than one year click here. For terms one year and greater click here. For mortgage rates, see our mortgage rates page.
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