Interest Rates

Why are BNZ’s interest rates not competitive with other banks. I understand RaboDirect are slightly different to normal banks but how can their interest rates be so much higher than other banks, and how come BNZ’s rate is so much lower than the other banks.

With the exception of the Kiwibank Online call account, the other accounts have very similar limitations on withdrawals, so are pretty much identical products.

(For some reason the BNZ account is called total money when it should be personal on call)

Rapid Save:

I’m comparing on call interest rates to on call interest rates because most of the accounts in the screenshot above are similar and have the same restrictions which are less restricted than a rapid save account. I have an on call account and rapid save accounts which I use for different purposes.
Below is a screenshot comparing similar rapid save interest rates across banks.

Got it. I guess my point was that it’s easier to rate chase across BNZ accounts than between banks.