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Thread: Saving rates

  1. #1

    Default Saving rates

    Anyone know which bank provides the best saving rates?

    Westpac online saving account offers only about 2% before tax.

  2. #2
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,086

  3. #3

    Default

    Thanks cube

  4. #4

    Default



    Anyone has experience with Heartland Bank and NZCU in terms of saving? Kind to share?

    Looking at facility such as online TT to/fro overseas as well.

  5. #5
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,843

    Default

    The No Minimum Opening Balance can be a little mis-leading.

    I use NZCU Baywide. The on-line saver offers NO interest unless
    the balance is > $1k. Kiwibank on-line saver balance must be
    >$2 k. The NZCU Internet access is a bit clunky, but you do get
    used to it. I don't think you can get an on-line saver with NZCU
    without having a 'standard' fee-bearing account, too. However,
    that fee is rebated pro rata, based on the amount of any loan or
    savings with the Credit Union.

    No knowledge of transfers back and forth from overseas - sorry.
    Last edited by Perry; 03-06-2015 at 05:21 PM. Reason: fixed typo
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #6

    Default

    Thanks Perry.

  7. #7
    Join Date
    Oct 2013
    Posts
    1,617

    Default

    I've been a fan of Rabodirect (www.rabodirect.co.nz) ever since it came to NZ back in 07/08. They consistently offer rates slightly better than all their competitors I've found. The only time this wasn't true was right before the GFC when their 2+ year TD rates suddenly dropped significantly. I had no idea what was going on until a few months later everyone else's crashed too.

  8. #8

    Default

    I'm also a fan of RaboDirect 3.25-4.30% is possibly the best on the market

  9. #9
    Join Date
    Sep 2004
    Location
    Hastings
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    Can't comment on RaboD, but
    a NZCU account supports NZ
    rather than any o'seas entity.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  10. #10
    Join Date
    Oct 2013
    Posts
    1,617

    Default

    That's a good point Perry.

    Rabo is a European bank, Nertherlands I think. Their NZ operations lend primarily to our agricultural and farming sectors. As far as I know they generally avoid the residential lending landscape, which is why you won't often see them mentioned on PT.


 

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