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ASB Bank Increases Variable Home Loan

23 April 2002

ASB Bank Increases Variable Home Loan Interest Rate

Statement made by Barbara Chapman, Head of Retail Banking and Marketing, ASB Bank Limited

ASB Bank today announces an increase in its variable home lending interest rate, from 7.20% p.a. to 7.50% p.a.

This increase takes effect immediately for new home loans, and on or after 13 May 2002 for existing variable home loans.

On a table mortgage of $100,000 over a 20 year term, this equates to an increase of $18.15 per month.

ENDS

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