Westpactrust Lowers Interest Rates On Fixed Rate L

WestpacTrust is the New Zealand division of Westpac Banking Corporation, which is incorporated in New South Wales, Australia

30 June 2000

WESTPACTRUST LOWERS INTEREST RATES ON FIXED RATE LOANS

For the second time this month WestpacTrust is dropping its interest rates for most fixed and capped rate home loans.

Fixed rates from one to five years will drop 0.10% per annum. One, two and three year capped rates will also drop 0.10% per annum. A special 18 month fixed rate of 8.40% per annum is also being offered. The new rates take effect immediately.

WestpacTrust Public Relations Manager Jane Anderson said: “There is a growing market expectation that short term interest rates are near their peak and this has caused longer term wholesale interest rates to fall. WestpacTrust believes it is important that we pass these decreases on to our customers as soon as possible.”

ENDS

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WestpacTrust is the New Zealand division of Westpac Banking Corporation, which is incorporated in New South Wales, Australia

WESTPACTRUST FIXED RATES (per annum)
1 year 18 month 2 years 3 years 4 years 5 years

New rate 8.40% 8.40% 8.60% 8.65% 8.70% 8.75%

Change -0.10% -0.10% -0.10% -0.10% -0.10% -0.10%

WESTPACTRUST CAPPED RATES (per annum)

1 year 2 years 3 years

New rate 8.90% 9.15% 9.40%

Change -0.10% -0.10% -0.10%

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