A. N. Z. deposit rates rise
PA Wellington Increases in deposit interest rates paid for some terms, and a "Special Offer" rate of 14 per cent for 27 month deposits were announced by the general manager of the ANZ Banking Group (New Zealand). Ltd (Mr Jim Nicolson). Of the 14 per cent top rate. Mr Nicolson said: “this will be paid for deposits over $5OO lodged for 27 months. Our objective is to attract longer term investment funds to offset the recent market tendency to shorter term deposits. Success will strengthen the bank's ability
to provide longer term finance to borrowers while rewarding the deposit providers. "In addition a deposit rate of 13.5 per cent is being offered to appeal to those people interested in a 15months investment." ANZ has also increased rates for various term deposits and on its popular Escalator. Floating Rate and Monthly Income Plan deposit services. In regard to these changes Mr Nicolson commented. "the increases, by straightening the yield curve, give a fillip to longer term savings."
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Press, 29 April 1981, Page 24
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172A. N. Z. deposit rates rise Press, 29 April 1981, Page 24
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