New Zealand-owned Kiwibank has again taken a market lead by cutting its one-year home loan rate to 2.65 percent making
this rate the best value in the market and another record low.
Kiwibank Head of Borrowing and Deposits Chris Greig says: “With these new rates we are supporting more New Zealanders to
get ahead and fulfil their home ownership goals as well as supporting those over the longer term who might be in a
tougher position due to the impact of Covid-19..
“New Zealanders are starting to turn their minds to the future. As New Zealand’s bank we play an important role in the
growth and progress of all New Zealanders. We are also key to ensuring competition by offering a better banking
alternative.
“For many customers this has been a challenging time, we have put in place support options, including mortgage repayment
deferrals and interest-only payments, and we are continuing to review products and services to make sure we have
solutions to meet our customer’s needs,” Mr Greig said.
Rates are effective from Monday 25 May and available to new and existing customers with 20% equity.
“We’ll continue to review our rates to ensure that we are competitive, and both our deposit and lending customers are
getting a fair deal,” Mr Greig said.LendingProductCurrent rate p.a.New rate p.a.ChangeKiwibank 1 year fixed*2.99%2.65%-0.34%Kiwibank 2 years fixed*3.39%2.79%-0.60%Kiwibank 3 years fixed*3.65%3.25%-0.40%Kiwibank 4 years fixed*3.99%3.45%-0.54%Kiwibank 5 years fixed*4.09%3.55%-0.54%