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


ASB Bank Announces Interest Rate Changes

Media Release
14 March 2005

ASB Bank Announces Interest Rate Changes

Statement made by Peter Hall, Head of Interest Rate Committee, ASB Bank

ASB Bank today announces an increase in its variable home lending interest rate, from 8.75% p.a. to 9.00% p.a.

This increase takes effect immediately for new home loans, and on or after 4 April 2005 for existing variable home loans.

On a table mortgage of $100,000 over a 20 year term, this equates to an increase of $16.02 per month.

The interest rate for FastSaver, ASB Bank’s high interest savings account for electronic and phone banking customers, will increase from 6.2% to 6.45% from 16 March 2005.

These changes reflect ASB Bank’s commitment to provide fair and competitive rates across lending and saving products.

The increases follow the rise in the OCR announced by the Reserve Bank last week.

- 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>>


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>>


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>>


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>>