Apr 12, 2008

Battles of interests

This is perhaps the only battle that I enjoy because it is to our advantage. There is an ongoing battle of online call account interest rates happening here in NZ.

For 2 months in a row, RaboPlus increased their online call account interest rate to 8.35%. This month, PSIS raised theirs to 8.40%. We have accounts with both banks!

1 comment:

  1. Whether higher interest rates are a good thing or a bad thing depends on whether you are paying or receiving interest. For savers and those with little or no floating rate debt, higher interest rates mean not only higher incomes but also (often, but not always) opportunities to buy assets at cheaper prices.

    Of course for borrowers, higher interest bills can be quite painful.

    Glad to see you are on the "right" side of the current interest rate wars. That said, I hope you do not get tempted by some of the even higher rates being offered by second tier finance companies - the default risk would be higher.