Interest rates up at Public Trust, Southern Cross

Public Trust and Southern Cross Building Society this morning announced a range of term deposit and mortgage rate increases, mostly for longer term rates. The move follows term deposit rate increases by UDC yesterday.

For term deposits above $10,000, Public Trust raised its three year rate by 5 basis points (bps) to 4.2 per cent; its four year rate by 20 bps to 4.65 per cent; and five year by 30 bps to 5 per cent.

Similar rises also come in to effect for term deposits lower than $10,000.

It raised its four year mortgage rate by 15 bps to 7.5 per cent, and its five year mortgage rate by 22 bps to 7.9 per cent.

Also today, Southern Cross Building Society raised its three year mortgage rate by 15 bps to 6.9 per cent, and its three month term deposit rate by 50 bps to 4.5 per cent.

- INTEREST.CO.NZ