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ASB Bank Increases Variable Home Loan Rate

Media Release
4 May 2004

ASB Bank Increases Variable Home Loan Interest Rate

Statement made by Hugh Burrett, Managing Director, ASB Bank Limited


ASB Bank today announces an increase in its variable home lending interest rate, from 7.50% p.a. to 7.75% p.a.

This increase takes effect immediately for new home loans, and on or after 31 May 2004 for existing variable home loans.

On a table mortgage of $100,000 over a 20 year term, this equates to an increase of $15.36 per month.

Term investment rates are currently being reviewed, and ASB Bank also announces a term investment special of 5.70% for 6 months for amounts $5000 plus, effective Wednesday 5 May.


- ENDS –

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