Westpac, NAB and ANZ have passed on the 0.25 percentage point increase in official interest rates to their bonus saver accounts.
Figures from RateCity released on Friday show Judo Bank pays the highest 1-year term deposit rate of 2.7 per cent, and the highest 2-year term deposit rate of 3.5 per cent. With headline inflation recorded at just over 5 per cent for the 12 months to March 31, even with the increase in savings rates of 0.25 percentage points, bank customers are still losing money, in real terms.
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