UBank raises term deposit rates

UBank have increased its three, six and 12-month term deposit rates by between 10 and 22 basis points, only a couple of weeks after cutting its TD rates.

According to yesterday's announcement, the 12-month rate rose 10 basis points, from 5.11 per cent to 5.21 per cent.

UBank does offer good rates. Reserve Bank figures show that the average 12-month term deposit rate has fallen from a high this year of 5.1 per cent, in March and April, to 4.4 per cent in August.

Source: Banking Day