HSBC NZ cuts its 3 year-fixed home loan rate

HSBC NZ cuts its 3 year-fixed home loan rate to a market-leading 5.99% pa

HSBC New Zealand, the global bank for New Zealanders, announces that it has slashed its 3 year fixed residential mortgage rate by 51 bps to 5.99% per annum making it the market-leading rate currently offered for that tenor in New Zealand. It is also offering the same 5.99% per annum rate for its 2 year fixed home loans.

These special 2 and 3 year fixed rates are open for a strictly limited time to new HSBC Premier customers, as well as existing HSBC Premier customers who borrow an additional $100,000.

The bank has maintained the rest of its highly competitive fixed home loan rate card at current levels including 5.59% per annum for 1 year – still the best rate currently offered by any bank in New Zealand – 6.89% per annum for 4 years and 6.99% per annum for 5 years.

“As HSBC New Zealand offers highly competitive fixed term residential mortgage rates across a range of tenors, it makes it easy for new HSBC Premier customers to work with our relationship managers to structure a home loan in a way that works best for them,” said Glen Tonks, Head of Retail Banking and Wealth Management at HSBC New Zealand.

HSBC Premier is the bank’s flagship global personal banking proposition within its retail banking offering, and in 2013 HSBC won the 2013 Best Regional Retail Bank in Asia award from The Asian Banker Magazine.

In New Zealand, every HSBC Premier customer has a dedicated and experienced local relationship manager. Additional benefits include no fees at ATMs of any bank in New Zealand, commission-free foreign currency exchange at any HSBC branch worldwide and the ability to transfer money internationally between your own HSBC accounts free of charge in as little as 30 seconds.

An individual can qualify to become an HSBC Premier customer in New Zealand either via a minimum combined home loan of NZD500,000 or NZD100,000 in savings and investments with HSBC.

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