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ASB Bank Reduces Variable Home Loan Interest Rate
16 August 2002
ASB Bank Reduces Variable Home Loan Interest Rate
Statement made by Peter Hall, Head of Institutional Banking, Treasury and ASB Securities, ASB Bank Limited
ASB Bank today announces a reduction in its
variable home lending interest rate, from 8.00% p.a. to
7.85% p.a.
This reduction takes effect immediately for new home loans, and on or after 9 September 2002 for existing variable home loans.
On a table mortgage of $100,000 over a 20 year term, this equates to a reduction of $9.40 per month.
This reduction reflects the recent declines in the 90 day wholesale bank bill rate.
- ENDS
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ASB Bank
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 dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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