Savers tempted with higher rates across the board by a smaller retail bank. Another term gets a 4% offer, this SBS Bank one at 3 years

SBS Bank is back with its 3.80% nine month term deposit offer. (It previously had this rate for this term in the first week of October.)

This is an interest-at-maturity offer, although they will pay interest monthly at a 3.75% rate.

This reprised rate means their one year rate slips lower from 3.70% to 3.60%.

But they have raised their 18 month offer to 3.70%, and their 2 year offer to 3.80%.

Their new 3 year offer (IAM) is now 4%.

This new rate set means they now offer the top interest rate for all terms from nine months through to three years, except for two year where BNZ has a 4% rate offer. That BNZ offer is set to end on Friday.

Three banks now offer rates of 4% or more; BNZ at 2 years, SBS Bank at 3 years, and ASB at 4 and 5 years.

Like most banks, if you want interest paid more frequently than at maturity, the rate offers are less. In SBS Bank's case here is the setup:

* Term share investments have a special meaning at SBS Bank. You are advised to understand this when you enquire.

As we have earlier noted, savers may wish to think through the wisdom of locking up of funds for longer terms in what seems to be a turning rate environment. This situation should have savers thinking through the risk/reward scenarios.

Use our deposit calculator to figure exactly how much benefit each option is worth; you can assess the value of more or less frequent interest payment terms, and the PIE products, comparing two situations side by side.

All carded, or advertised, term deposit rates for all institutions for terms less than one year are here, and for terms one-to-five years are here.

Term PIE rates are here.

The latest headline rate offers are in this table.

for a $25,000 deposit	Rating	3/4 mths	5/6 mths	8/9 mths	1 yr	18 mths	2 yrs	3 yrs
	AA-	3.00	3.35	3.50	3.50	3.60	3.50	3.50
	AA-	3.00	3.20	3.60	3.20	3.50	3.65	3.80
	AA-	3.00	3.30	3.60	3.25	3.50	4.00	3.50
Kiwibank	A+	3.00	3.60	3.20	3.35		3.40	3.60
	AA-	3.40	3.35	3.10	3.40*	3.20	3.70	3.30
	BBB	2.95	3.50	3.30	3.50	3.55	3.60	3.65
	BBB	3.10	3.30	3.70	3.40	3.40	3.40	3.70
HSBC Premier	AA-	2.55	2.90	2.90	2.90		2.90	2.95
	A	2.85	3.50	3.35	3.40	3.40	3.45	3.55
	BBB	2.75	3.55	3.80	3.60	3.70	3.80	4.00
	A-	3.00	3.15	3.15	3.20	3.25	3.30	3.40
UDC	A-	3.00	3.35	3.60	3.60	3.65	3.45	3.45
Wholesale/swaps		2.04	2.08		2.11		2.28	2.46

Our unique term deposit calculator can help quantify what each offer will net you.