Statement made by Barbara Chapman, Group GM Marketing and
Human Resources, ASB Bank Limited
ASB Bank today announces a reduction in its variable home lending interest rate, from 7.70% p.a. to 7.20% p.a.
This reduction takes effect immediately for new home loans, and on or after Monday 8 October 2001 for existing variable
On a table mortgage of $100,000 over a 20 year term, this equates to a reduction of $30.52 per month. This reduction,
combined with the reductions announced in March, April and May means that the cost of a $100,000 mortgage over 20 years
has reduced by $80.50 per month in the past 6 months.
The reduction is a result of a reduction in the Reserve Bank Official Cash Rate announced today.
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Helping you get one step ahead.
In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis
grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking,
funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're
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