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ASB Supports Savers With New 1.75% Market Leading Term Deposit Rate

Press Release – ASB

Asb Term Deposit Interest Rate

ASB is increasing its term deposit rates, including lifting the 60-month term deposit rate by 0.75% to a market leading 1.75%. ASBs Executive General Manager of Retail Banking, Craig Sims, says ASB is taking the opportunity to offer Kiwis with cash …

Asb Bank Term Deposit

ASB is increasing its term deposit rates, including lifting the 60-month term deposit rate by 0.75% to a market leading 1.75%.

ASB’s Executive General Manager of Retail Banking, Craig Sims, says ASB is taking the opportunity to offer Kiwis with cash savings some highly competitive term deposit options while also balancing the needs of borrowers who have been benefiting for some time from an extremely low interest rate environment.

“While there’s been much focus on home loan rates, customers with funds to invest are often seeking to balance their portfolios, and term deposits can be an important part of the mix.

“Given the performance of the New Zealand economy through COVID-19 has been stronger than anyone anticipated and our commitment to helping the financial progress of all New Zealanders we’re pleased to be able to support our savers with these market leading term deposit rates.”

In addition to the new 60-month rate, ASB has also increased the rates for deposit terms from 9 to 48 months. The below rate changes are effective from Tuesday 2 March 2021.

More information on term deposit rates can be found at ASB’s Term investment rates

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ASB is increasing its term deposit rates, includinglifting the 60-month term deposit rate by 0.75% to a marketleading 1.75%.

ASB’s Executive General Manager ofRetail Banking, Craig Sims, says ASB is taking theopportunity to offer Kiwis with cash savings some highlycompetitive term deposit options while also balancing theneeds of borrowers who have been benefiting for some timefrom an extremely low interest rateenvironment.

“While there’s been much focus onhome loan rates, customers with funds to invest are oftenseeking to balance their portfolios, and term deposits canbe an important part of the mix.

“Given theperformance of the New Zealand economy through COVID-19 hasbeen stronger than anyone anticipated and our commitment tohelping the financial progress of all New Zealanders we’repleased to be able to support our savers with these marketleading term deposit rates.”

In addition to the new60-month rate, ASB has also increased the rates for depositterms from 9 to 48 months. The below rate changes areeffective from Tuesday 2 March 2021.

Moreinformation on term deposit rates can be found at ASB’sTerm investmentrates

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