Kiwibank this morning followed all the other leading banks in increasing their floating rates by 0.25% from 5.90% to 6.15%.
| 19/03/2010 | 7/05/2010 | 12/05/2010 | 24/05/2010 | 22/06/2010 | 2/07/2010 | 6/07/2010 | 11/08/2010 | |
| Variable | 5.65% | 5.65% | 5.65% | 5.65% | 5.90% | 5.90% | 5.90% | 6.15% |
| Revolving | 5.65% | 5.65% | 5.65% | 5.65% | 5.90% | 5.90% | 5.90% | 6.15% |
| 6 month fixed | 5.75% | 5.75% | 5.99% | 5.99% | 6.10% | 6.10% | 6.10% | 6.35% |
| 1 year fixed | 6.15% | 6.15% | 6.35% | 6.35% | 6.45% | 6.45% | 6.45% | 6.45% |
| 18 month fixed | 6.49% | 6.49% | 6.69% | 6.69% | 6.69% | 6.69% | 6.69% | 6.69% |
| 2 year fixed | 7.10% | 7.10% | 7.30% | 7.30% | 7.30% | 6.99% | 6.99% | 6.69% |
| 3 year fixed | 7.70% | 7.70% | 7.70% | 7.70% | 7.70% | 7.70% | 7.25% | 7.19% |
| 4 year fixed | 8.20% | 8.20% | 8.20% | 8.20% | 8.20% | 8.20% | 7.55% | 7.45% |
| 5 year fixed | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 7.75% | 7.75% |
They also cut their mid-long term rates with a hefty cut to the two year rate.
I personally subscribe to the philosophy of ‘spreading your eggs’ by having a combination of two fixed periods pieces and a floating revolving credit account. My first fixed period is due to expire in November so I can see myself picking up a 2 year fixed rate for that amount just to keep that mix of fixed and floating.
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