Raboplus has increased its term deposit rates for 3 month, 6 month and 1 year terms by between 10 to 20 basis points. Raboplus increased its 3 month rate to 3.6% from 3.45%. It lifted its 6 month rate to 4.95% from 4.75% and raised its 1 year rate to 5.25% from 5.15%. See all bank term deposit rates up to 1 year here. See all bank term deposit rates of 1 year and over here. Raboplus' 3 month rate of 3.6% is now higher than the big four banks (ASB, ANZ National, BNZ, Westpac), which are grouped around 3.5%, but is below Kiwibank on 3.75%. Raboplus' 6 month rate of 4.95% is now higher than ANZ on 4.9%, ASB on 4%, BNZ on 4.9%, National on 4.5%, Westpac on 4.9% and Kiwibank on 4.0%. It is also 2.45% above the Reserve Bank's Official Cash Rate of 2.5%. But is below SBS and TSB on 5.0%, although they have BBB and BBB+ credit ratings respectively, while Raboplus is on AAA. Raboplus' 1 year rate of 5.25% is above ANZ on 5.1%, BNZ on 4.5%, National on 5.1% and Westpac on 5.2%. But it is below Kiwibank on 5.3% and ASB on 5.3%.
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