NZ’s lowest fixed three year rate in a decade
Embargoed to 27 February 2013
HSBC Premier offers New Zealand’s lowest fixed three year rate in a decade
The end of summer is fast
approaching, but HSBC Premier is keeping spirits up by
dropping its three year home loan rate by 75 basis points to
4.99% per annum – the lowest rate offered by a New Zealand
bank in at least a decade.*
As well as this competitive interest rate, HSBC Premier is also offering market-leading fixed home loan rates across the board at 4.99% p.a. fixed term for one, two and three years, 5.50% for four years and 5.75% for five years.
These offers are open for a strictly limited time to new HSBC Premier customers and existing Premier customers who borrow an additional $100,000.
“We are excited to bring this offer to our customers,” says John Barclay, Head of Retail Banking and Wealth Management. “These options mean that our Premier customers can get the rates that work best for them and discussions indicate that many are now considering longer term fixed rates.
“Customers can also work with one our experienced Relationship Managers to put together the home loan solution that best meets their individual needs. From our experience, when it comes to home loans, one size doesn’t fit all and it is important for customers to be able to choose the home loan structure that suits them best.”
HSBC Premier has consistently offered some of the most competitive home loan interest rates in the market since April 2010.
“Since introducing HSBC Premier to New Zealand, we have offered highly competitive fixed home loan interest rates, and offering New Zealand’s lowest three year fixed rate in at least 10 years demonstrates that.”
HSBC Premier is a global proposition with truly international benefits including no ATM fees at HSBC ATMs anywhere in the world, foreign currency exchange through all HSBC branches worldwide commission free, access to instant emergency cash advances of USD2,000 and the ability to transfer money internationally between HSBC accounts in what can be as little as 30 seconds with no fees.
Every HSBC Premier customer also has a dedicated Relationship Manager all of whom are knowledgeable and highly experienced within the New Zealand housing market.
There are qualifying criteria to becoming an HSBC Premier customer; individuals need to qualify with either a minimum combined home loan of NZD500,000 or NZD100,000 in savings and investments.
ends
Notes to
Editors
HSBC rate change:
Fixed term | New rate % p.a. | Old rate % p.a. |
1 year | 4.991 | 5.25 |
2 years | 4.991 | 5.39 |
3 years | 4.991 | 5.74 |
4 years | 5.501 | 6.20 |
5 years | 5.751 | 6.65 |
*Source: Market rates compared using www.goodreturns.co.nz as at 10am on Friday 22 February. Graphs showing all banks’ rates available with this news release (only eight banks available on a graph at a time).
1. Offer
available from 27 February 2013 to only new to bank HSBC
Premier customers, and existing HSBC Premier customers who
borrow an additional amount of NZD100,000. HSBC normal
lending criteria apply. Interest rates are current as at 27
February 2013 and are subject to change or withdrawal
without notice & applies to HSBC Premier customers only
(HSBC Premier qualification of e.g. combined lending of
NZD500,000 or more or NZD100,000 of savings & investments
with HSBC). Early repayment fees may apply to fixed rate
loans. HSBC Premier Terms and Conditions, Retail Banking and
Wealth Management Terms and Conditions apply to all products
and services mentioned. The Global View and Global Transfer
service is subject to terms and conditions, which are
available online at hsbc.co.nz. Global View and Global
Transfers are available in over 30 countries. Daily transfer
limits apply. Issued by The Hongkong and Shanghai Banking
Corporation Limited, incorporated in the Hong Kong SAR,
acting through its New Zealand branch (“HSBC”).
2. HSBC in New Zealand
HSBC in New
Zealand operates through a network of branches and offices,
providing personal and commercial financial services,
payment and cash management, trade finance, treasury and
financial markets, corporate banking, investment advisory
and securities custody services. The principal HSBC Group
member in New Zealand is The Hongkong and Shanghai Banking
Corporation Limited, incorporated in Hong Kong SAR, acting
through its New Zealand branch.
3. The Hongkong
and Shanghai Banking Corporation Limited
The
Hongkong and Shanghai Banking Corporation Limited is the
founding and a principal member of the HSBC Group which
serves around 89 million customers through four global
businesses: Retail Banking and Wealth Management, Commercial
Banking, Global Banking and Markets, and Global Private
Banking. The HSBC Group's network covers 6,500 offices in
over 80 countries and territories in six geographical
regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle
East and North Africa, North America and Latin America.
Ends
See attached media
release for more details:
Home_Loans_summer_campaign_final.pdf