Kiwibank rate changes

Kiwibank has moved both its fixed home lending and term deposit rate cards.

The New Zealand-owned bank is leading the popular one year term for both deposits and lending across the majors.

One year term deposit is leading the majors at 3.75%
One year home loan fixed rate is 0.16% below the majors at 5.19% (majors are all 5.35%). The $10k cash deal is still available too.

Kiwibank’s new, intuitive calculators are supporting customers to make informed financial decisions so they can take action to secure their financial future. The First home buyer calculator and the Repayments and structuring calculator are now available on the purpose-led bank’s recently refreshed website.

Kiwibank Senior Product Manager Borrowing and Savings Richie McLay: “Our new calculators can be used to fine tune your loan, illustrate the impact of increasing payments, and compare different structures. The new tool also includes comparisons as well as a visual graph that illustrates savings and the timeframe it will take to pay off your home loan.

“We know people want to trial different options before approaching our experts and confirming what they’ve discovered. The calculators walk first home buyers through the process and introduce concepts they may not be familiar with. They’re a great place to start and really complement our personal expert service,” he said.

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