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

 

Bank of NZ bucks trend with home loan rate cut

16 August 2004
Media release – for immediate use

Bank of New Zealand bucks trend with home loan rate cut

Home loan customers – here’s some welcome relief. Bank of New Zealand is reducing its tailored and standard one-year fixed term home loan rate from 7.50% per annum to 7.25% per annum from today.

Bank of New Zealand’s public relations manager, Zaman Toleafoa, says the bank is bucking the trend in the home loan lending market.

“Home loan customers have been increasingly feeling the pinch with recent interest rates rises. We’re pleased to be able to offer this reduced one-year rate, direct to customers,” says Mr Toleafoa.

As at today, Bank of New Zealand has the lowest one-year rate of the major banks, and no other major bank has a lower two-year home loan rate.

“We’re encouraging customers to fix their home loans for up to two-years. Our one-year and two-year fixed rate home loans provide the incentive for customers to do just that.”

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>>