Key Points:

KiwiBank, which cut its three-year fixed interest rates last month, is tomorrow hiking its rates.

It is raising its three-year fixed term from 8.6 per cent to 8.7 per cent. Its four and five-year terms will rise from 8.65 per cent to 8.75 per cent.

ANZ and National Bank last week increased three-year fixed term rates from 8.75 per cent to 8.95 per cent.