For fifth consecutive year
Heartland Bank has won the prestigious Canstar Bank of the Year - Savings Award for the fifth year in a row.
The 2022 award recognises the financial institution that provides the strongest combination of products, accounting for the price positioning, features, savings tools and flexibility of the products assessed within Canstar’s Savings Account Star Ratings profiles.
In addition, Heartland’s Direct Call account and 32-day Notice Saver account have both been rated as 5-star outstanding value products by Canstar.
Heartland Bank general manager of retail Andrew Ford (pictured) said the awards reflected the bank’s simple and effective savings products.
“We’re over the moon,” Ford said.
“The introduction of Notice Saver products, which provide higher interest rates than traditional on-call savings accounts without having to lock funds away for an extended term, have been positively received by our customers.”
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Ford said this was an outstanding recognition of the value Heartland Bank customers received from its market-leading savings products.
“To win five years in a row demonstrates our consistency in offering great products with competitive returns, supported by fantastic service,” he said.
“With the higher cost of living, it may feel like a tough time to save. However, we’re seeing more and more Kiwis shopping around to get their hard-earned savings working harder for them.”
Canstar general manager NZ Jose George said Heartland Bank’s dominance in the savings space was clear.
“Heartland’s focus on offering the best deals to customers means it consistently offers rates higher than its competitors,” George said.
“Its savings rates across both regular and flexible accounts, along with its term deposits, are some of the most competitive in the market.”
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George said Canstar’s consumer research showed that more than 70% of Kiwis were still relying on savings accounts for their rainy-day cash.
“A third of us are also keeping some money in term deposits,” he said.
“We have had several years of miserable returns, but savings accounts are starting to deliver better deals which will help Kiwis facing other financial pressures. Heartland remains the clear frontrunner for savings and we congratulate the team for their continued success."