Kiwibank will pass on the full 0.75 percent official cash rate cut to customers with floating home loan rates.
Kiwibank will reduce its floating home loan rate from 5.15 percent to 4.40 percent.LendingProductCurrent rate p.a.New rate p.a.ChangeKiwibank Variable5.15%4.40%-0.75%Kiwibank Revolving5.20%4.45%-0.75%Kiwibank Offset5.15%4.40%-0.75%
Kiwibank Chief Executive Steve Jurkovich says: “At Kiwibank, our commitment is to support our customers and the wider
New Zealand economy as the Coronavirus (COVID-19) situation evolves. Like the government and businesses across New
Zealand, we’re doing what we can to try to respond to the evolving situation.”
The disruption to travel and trade caused by coronavirus has affected a range of New Zealand businesses. Kiwibank is
bolstering resources to support customers financially affected by the global outbreak.
The relief package features a range of possible support options for both business and personal customers. These may
include:Temporary overdraft facilityInterest only option for personal and business lendingThree-month repayment holiday
Any business or personal customer concerned about their situation should get in touch with the New Zealand owned bank to
discuss their needs.