Kiwibank has raised its home loan and deposit interest rates this morning.

KiwiBank customers whose bank accounts were cleaned out by a maintenance glitch on Sunday will have a longer wait to be reimbursed.

A young solo mother was left with no money after a bank fault cleared her account and left her having to borrow money for her baby's nappies.

The latest deal from a New Zealand bank to lure in new customers with "free" money and zero fees comes with a warning tag from financial experts.

Government-owned Kiwibank is next in the gun for the group targeting banks in a lawsuit alleging they're charging unfair fees.

Low-deposit mortgages will not only be harder to get from the end of this month, but they will be a lot more expensive.

Kiwibank has hiked two of its fixed mortgage rates for people who have deposits of less than 20 per cent.

A man told police he had no idea how $5000 came to be deposited in his Kiwibank account but he had spent most of it, the Dunedin District Court heard yesterday.

Xero chairman Sam Knowles and chief operating officer Alastair Grigg have cashed in some of their shares, which have more than tripled in price in the past 12 months.

Kiwibank has today reduced its one-year home loan rate by 26 basis points and withdrawn a six-month special promotion.

A massive class-action suit being taken against New Zealand's big four banks and Kiwibank was announced with much fanfare earlier this week.

Profits in the finance sector rocketed up last year despite New Zealand's sluggish economic growth with the banks making close to $3.7 billion.

Default provider arrangements for KiwiSaver do not encourage financial literacy and should be ditched, says state-owned Kiwibank.

Banks are slashing their long-term mortgage rates, with customers tied up for longer periods likely to save thousands.

A group of Auckland charities have quietly started lending money at zero interest rates to low-income families in a pilot project which may drive loan sharks out.

Banks have united to keep mum on how often they give customer details to police without a warrant.

Banks get daily requests from the police for personal banking information, and one says it is influenced by law enforcement interest when it assesses customers.

Banks are going into battle for new customers with free tablet computers, contributions to house painting and cash handouts all up for grabs.

ANZ Bank sees no rush of customers to rivals with death of National brand.