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. Information on ASB 1 Year Term Deposit Rates: While terms may vary from 30 days to 5 years, a 12 month/1 year term is generally considered to be a short term investment. This short term investment in a 1 year term deposit at ASB provides a fixed interest rate return on your savings or available cash. Term Investments. Updated 27 November 2020 - Interest rates may change at any time. Minimum deposit is $1,000 and the maximum is $5 million (retail only). Interest is paid every six months (or at the end of your term, if the term is less than six months) and you can nominate the account interest is paid to. Thank you for visiting American Savings Bank (ASB). After clicking “I Accept” below, you will be directed away from ASB’s website and redirected to a third party’s website. We recommend that you review the third party’s privacy and information security policies, because they may differ from ASB’s policies. For terms of less than six months, interest is paid at maturity. For longer terms you can choose to have interest paid monthly, quarterly, six monthly, annually or at maturity or you can choose to have.
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.
Asb Term Deposit Rates
Moreinformation on term deposit rates can be found at ASB’sTerm investmentrates
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Asb Term Deposit Interest Rates
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