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Kiwibank Cuts Mortgage Rate To Five-Year Low
MEDIA RELEASE
Kiwibank Cuts Mortgage Rate To
Five-Year Low
Kiwibank has cut its one-year fixed rate to 5.99% p.a., the lowest one-year rate it has offered since August 2003.
Kiwibank has also reduced all other fixed home loan rates with its six-month rate at 6.49% and all other fixed term rates at 6.99%. The Kiwibank variable rate is already well below rates offered by competitors and is also 6.99%.
Kiwibank Chief Executive Sam Knowles said the home loan market is very competitive and the bank is determined to have the best rates available.
“We have always prided ourselves on having home loan interest rates that are slow to rise and fast to fall.”
The rate cuts are effective immediately and are 0.50% for the six month and one year, 0.01% for two years and 0.11% for three to five years.
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