Heartland competing harder for deposit money now. Just noticed on www.interest.co.nz 1 year term deposit now 3.0%
90 day Notice saver 2.50%, 32 day notice saver 1.9%.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Heartland competing harder for deposit money now. Just noticed on www.interest.co.nz 1 year term deposit now 3.0%
90 day Notice saver 2.50%, 32 day notice saver 1.9%.
Always positive seeing HGH paying more for their deposits.
Leads to a higher NIM .
It is AFR paywalled. But, once you click, reload the page by hitting the little circular arrow by the URL and then very very quickly hitting Esc. That stops the script from loading, and you can view the article. You may have to do it like 5 times before it works until you become a seasoned pro, or just get a subscription as I eventually did. Or you can hit the x button on your phone while it is loading does the same thing.
Jest of the article is that deposits aren't as sensitive to interest rate rises as other wholesale methods of funding, and banks may be able to claw back some of their lost marketshare from fintechs who will have higher costs of funds going forward.
It is AFR paywalled. But, once you click, reload the page by hitting the little circular arrow by the URL and then very very quickly hitting Esc. That stops the script from loading, and you can view the article. You may have to do it like 5 times before it works until you become a seasoned pro, or just get a subscription as I eventually did. Or you can hit the x button on your phone while it is loading does the same thing.
Jest of the article is that deposits aren't as sensitive to interest rate rises as other wholesale methods of funding, and banks may be able to claw back some of their lost marketshare from fintechs who will have higher costs of funds going forward.
Useful tip re. getting round the paywall. Only took me two attempts!
Originally Posted by percy
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