ANZ to raise interest rates on fixed home loans and term deposits
New Zealand's ANZ Bank says it will raise interest rates on a number of fixed home loan and term deposit products. The move affects borrowers and savers as the bank adjusts to shifting funding costs.
ANZ Bank New Zealand said it will raise interest rates on a number of its fixed home loan and term deposit products. The bank did not specify every affected rate but confirmed the changes would apply across several fixed-term options.
The adjustment comes as banks reassess funding costs amid shifting conditions in wholesale lending markets. Higher fixed mortgage rates could add pressure on households renewing loans, while savers with term deposits stand to benefit from improved returns.
Analysts say New Zealand banks have been recalibrating rates in recent months as they balance competition for deposits against the cost of funding mortgage lending. Borrowers are being encouraged to compare offers closely before locking in new fixed terms.
Read next
Capital One closes Trump Organization accounts after money-laundering probe
Capital One said it closed accounts belonging to the Trump Organization following an internal anti-money-laundering investigation. It is the first time a major bank has formally tied money-laundering concerns to President Donald Trump's family business.
IMF's Georgieva urges Uruguay to take more risks to spur growth
Why KiwiSaver members are $10b richer, as top fund returns 98% in a year
South Korea to hold emergency market meeting after Kospi plunge
