INBS Rates

P

Plover

Registered User
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fungus kindly pointed me at the INBS Share account, which does 7 months fixed term at 3.30%. Must be opened by 28th Feb. I spot something interesting here... 28th Feb 2010 + 7 months = 28th Sep 2010. Which is the day the guarantee runs out. I'm not suggesting anything bad is likely to happen on that day, but is there some reason for this? Do they have a funding shortfall they need to make up in the meantime? Or just coincidence?
 
Thread split.

It is no coincidence that the 7 month term deposit rate ends 7 months before the guarantee runs out. Having said that, term deposits taken out prior to September 28th 2010 are guaranteed for the full term.

Do they have a funding shortfall? Well, normally banks that offer the highest rates are in the greatest need for funds.
 
Hi guys,
I was in with INBS earlier to find out what the rates were going to be changed too on Monday. The women wasn't going to say anything until I mentioned that I was thinking of taking out the EBS 9mth. She then said that she though the rate for the 3mth & 1yr were going to change to 3.5%.

N.D.,
Fi.
 
Thanks for the information.

Their 1 year rate is changing to 3.50% as per the best buys.

That is strange that they will increase their 3 month term deposit rate to 3.50%. Normally, it takes longer durations to get that kind of rate.

I am going to try and get my hands on all their new rates tomorrow.
 
I would have thought the 6 month rate might be good, just as the 7 month one last month. The rates may also be related to the amounts in existing fixed terms of various durations rolling over.
 
I have the new rates.

INBS are increasing their 1 month (2.50% - 3.00%), 2 month (2.60% - 3.25%), 3 month and 1 year term deposit rates.

Best buys updated ...

 
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