INDEPENDENT NEWS

Kiwibank Cuts Home Loan Interest Rates

Published: Thu 20 Nov 2008 05:01 PM
20 November 2008
MEDIA RELEASE
Kiwibank Cuts Home Loan Interest Rates
Kiwibank has today cut its variable home loan rate to 7.95% to stay significantly less than the big Australian-owned banks.
Kiwibank Chief Executive Sam Knowles said it was clear there would be a substantial cut to the Official Cash Rate in early December and the bank “didn’t want to sit and wait”.
“We take pride in being fast to cut home loan rates and slow to increase them. Today we are cutting our variable and all shorter term rates.”
Kiwibank is offering a six month fixed rate of 7.49%; one year at 7.29% and two years at 7.59%. These rates require a home owner to have 20% or more equity in the property.
The new variable rate is effective immediately for new customers and in two weeks for existing customers. The new fixed rates take effect immediately.
ENDS

Next in Business, Science, and Tech

Major New Zealand Upgrade Programme Projects Go To Tender
By: NZTA
Reserve Bank Seeks To Preserve Benefits Of Cash
By: Reserve Bank
Double-dip recession next year, but housing rolls on
By: RNZ
Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific
By: Microsoft New Zealand
Fonterra Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production
By: Fonterra
New Zealand Remains In Top 10 For Energy Balance
By: Business NZ
Businessman Eric Watson sentenced to a four-month jail term
By: RNZ
OECD Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020
By: OECD
Spark Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities
By: Spark
Monthly Migration Remains Low
By: Statistics New Zealand
Proglacial Lakes Are Accelerating Glacier Ice Loss
By: University of Canterbury
Fonterra Sells China Farms
By: Fonterra
New Zealand Moves To Protect Cash
By: Next Payments
Zoom Your Lens Over Bright Spots Dazzling In The NZ Economy
By: Kalkine
New Zealand And Uruguay Unite On Reducing Livestock Production Emissions
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media