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Bankdirect Cuts Variable Home Loan Interest Rate

August 16th 2002

Media Release

Bankdirect Cuts Variable Home Loan Interest Rate

BankDirect has cut its Variable and FlexiLoan home loan interest rates.

The new rate of 7.55% per annum is in response to global easing in rates – led by the US market.

New Rate Rate Previously
7.55% p.a. 7.70% p.a.

New customers will benefit from this new rate immediately, followed by existing customers on September 6th 2002.

“BankDirect is a home loan specialist with no expensive branches to support, fewer overheads and on average lending rates that are lower than our competitors,” says Head of BankDirect Kevin Leith.

“We are committed to passing on interest savings to our customers immediately and the easing of global markets is a boost for New Zealand mortgage holders”.

Customers can find out more online at www.bankdirect.co.nz or may contact a BankDirect home loan specialist by phoning 0800 500 400.

Ends.


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