Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ASB Bank Reduces Fixed Home Loan Interest Rates

ASB Bank Reduces Fixed Home Loan Interest Rates

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

Further to the announcement at lunchtime today to reduce ASB Bank’s home lending variable interest rate from 7.85% pa to 7.60% pa, the Bank is also reducing fixed home lending interest rates as follows:

New Rate Old Rate (% pa) (% pa)

6 months fixed 6.50% 6.85% 12 months fixed 6.50% 6.75% 2 years fixed 6.75% 6.90% 3 years fixed 6.95% 7.05% 4 years fixed 7.10% 7.25% 5 years fixed 7.20% 7.35%

“We have watched the wholesale market’s response to today’s Reserve Bank OCR announcement very closely and believe there is sufficient stability across the yield curve to enable us to reduce our fixed rates as well as our variable rate” Ms Chapman said.

The Bank has also reduced Term Deposit interest rates as a consequence of the lower wholesale market rates.

© Scoop Media

Business Headlines | Sci-Tech Headlines


First Union On Mill Plans: Bitter Blow For Gisborne Workers

Up to 100 Gisborne jobs could go as JNL, the wood processing company, begins consulting on a proposal to nearly halve its workforce at its Gisborne mill. More>>


Employment:Slow Track For Most Contentious Labour Law

The government will announce a timetable for legislating a range of long-signalled labour law changes but is placing its intention to introduce new Fair Pay Agreement legislation on a slower track to allow consultation with both employers and trade unions. More>>


NZ's Space Programme: Rocket Lab's Successful Launch

Science Media Centre: Rocket Lab successfully launched its Electron rocket and deployed satellites into orbit Sunday afternoon, a milestone for the company and New Zealand's fledgling private space industry. More>>


BusinessDesk: Body massages and Uber are in, DVDs are out, says Stats NZ

Statistics New Zealand has rejigged the consumers price index basket in its latest three-year review, adding body massages, Airbnb and Uber and removing DVD and Blu-Ray players…More>>


StuffMe: Commerce Commission Welcomes Dismissal Of Merger Appeal

In a summary of their judgment released today, Justice Dobson and lay member Professor Martin Richardson dismissed the appellants’ process criticisms and found the Commission was entitled to place significant weight on the prospect of reduced quality of the products produced by the merged entity. More>>


Digital Futures: New Chief Technology Officer Role Created

Communications Minister Clare Curran has called for expressions of interest for the new role of Chief Technology Officer position to help drive a forward-looking digital agenda for New Zealand. More>>