ASB says it's looking to support savers wanting to get ahead

The bank's increasing its term deposit rates, including lifting the 60-month term deposit rate by point 75 to a market leading one point 75 per cent.

ASB's Retail Banking executive general manager Craig Sims says they're pleased to reward people who are saving.

He says there's been a lot of focus on home loan rates and borrowing but for customers looking for investment options, it's nice they can do this.

The changes come into effect from tomorrow.