Variable Home Loan Interest Rate Reduced
Asb Bank Reduces Variable Home Loan Interest Rate
Statement made by Barbara Chapman, Head of Retail Banking and Marketing, ASB Bank Limited
ASB Bank today announces a reduction in its variable home lending interest rate, from 7.85% p.a. to 7.60% p.a.
This reduction takes effect immediately for new home loans, and on or after 19 May 2003 for existing variable home loans.
On a table mortgage of $100,000 over a 20 year term, this equates to a reduction of $15.50 per month.
The reduction is a result
of a reduction in the Reserve Bank Official Cash Rate