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

 


Home loan mission: Unbeatable

Home loan mission: Unbeatable

Your mission: to find from any of the other four big banks a lower advertised two-year fixed home loan rate than that offered by Bank of New Zealand. Your chances: impossible. (Journalists note: this message will not self-destruct).

Bank of New Zealand is promising customers the lowest advertised two-year fixed home loan rate of the big four banks in a new home loan campaign code-named operation ‘Unbeatable’. The offer applies to the initial 2-year term and to 2-year fixed rates (excluding packaged offers) publicly advertised by ASB Bank (excluding Bank Direct), National Bank, ANZ and Westpac only.

Bank of New Zealand’s general manager for business development and strategy, Andrew Whitechurch, is confident the bank’s two-year fixed rate will not be beaten by any of the other four big banks advertised rates.

“To beat the rising rates market, our chief economist, Tony Alexander, recommends that customers fix their home loan for two years. This new campaign makes it easy for home loan customers: fix your home loan for two-years with Bank of New Zealand, and you can be confident that you’re getting an unbeatable two-year rate,” says Mr Whitechurch.

Mr Whitechurch says the bank will better any currently advertised two-year rate by any of the other four big banks.

“Two-years is the term of preference for home loan customers at present, and we are committed to offering consumers a great deal for this popular term. We will not be beaten on price by the four big banks on our two-year fixed rate.

“We can afford to offer this great deal because our margin can’t be eroded by third-party fees and costs like our major competitors’ margins can be.”

Bank of New Zealand’s current two-year rate is 7.40% p.a, which is at least 0.20% lower than any of the four big banks advertised rates.

The ‘Unbeatable’ campaign was launched on Saturday 9 October to coincide with spring, traditionally one of the most popular times for homebuyers. To take advantage of the offer all home loans must be drawn by 17 December 2004.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news