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

 

ASB Increases Variable Home Loan Interest Rate

11 June 2004

ASB Bank Increases Variable Home Loan Interest Rate

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

ASB Bank today announces an increase in its variable home lending interest rate from 7.75% per annum to 8.00% per annum.

This increase takes effect immediately for new variable rate loans, and on or after 5 July 2004 for existing variable home loans.

On a table mortgage of $100,000 over a 20 year term, this equates to an increase of $15.49 per month.

This increase is in response to yesterday’s increase in the Reserve Bank Official Cash Rate, and ongoing upward pressure on wholesale interest rates.

The Bank will review fixed home lending interest rates next week, and expects these also to rise.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>