HSBC offers low one-year fixed home loan rate in NZ
10 September 2013
HSBC offers New Zealand’s lowest one-year fixed home loan rate in a decade
Announced by HSBC’s new Head of Retail Banking and Wealth Management, New Zealand
Glen Tonks, HSBC’s new Head of Retail Banking and Wealth Management in New Zealand, has announced that the bank has reduced its HSBC Premier one-year fixed home loan rate by 24 basis points to 4.75% per annum.
This special home loan rate is being offered for a strictly limited time to new HSBC Premier customers and existing HSBC Premier customers who borrow an additional NZD100,000 or more. To qualify for this offer customers must have at least 20% deposit or equity.
“With most market commentators expecting the RBNZ to raise the Official Cash Rate in Q1 next year, if you’re looking to purchase a new home or wishing to re-finance an existing loan, this could be the ideal time to take advantage of this market-leading rate with HSBC Premier,” said Glen Tonks.
“By doing so, you would also benefit from a range of HSBC Premier customer privileges, including having a knowledgeable and highly-experienced dedicated local relationship manager and a home loan solution suited to your circumstances,” he added.
Glen Tonks, previously National Manager Premier Wealth at HSBC New Zealand, was promoted to his current role on 1 September 2013, replacing John Barclay who has taken up the newly-created role of Head of Corporate & Institutional Sales for HSBC New Zealand’s Corporate Banking Division.
HSBC Premier is the bank’s flagship global personal banking proposition. In New Zealand, every HSBC Premier customer has a dedicated local relationship manager, all of whom are very experienced and have in-depth knowledge of the New Zealand housing market. Additional benefits include no fees at ATMs of any bank in New Zealand, commission-free foreign currency exchange at any HSBC branch worldwide, the ability to transfer money internationally between your own HSBC accounts free of charge in as little as 30 seconds, as well as access to instant emergency cash advances of USD2,000.
An individual can qualify to become an HSBC Premier customer either via a minimum combined home loan of NZD500,000 or NZD100,000 in savings and investments with HSBC.
HSBC Premier fixed home loan
|Fixed term||Special rate % p.a.||New rate % p.a.||Old rate % p.a.|
*Source: Market rates compared using www.goodreturns.co.nz as at 10.00am on Tuesday, 10 September 2013. Graphs showing all banks’ rates available with this news release (only seven banks available on a graph at a time).
Graph of major New Zealand bank rates – from www.goodreturns.co.nz
Click for big version.
1. Offer available from 11 September 2013 to only new to bank HSBC Premier customers, and existing HSBC Premier customers who borrow an additional NZD100,000. HSBC normal lending criteria apply. Interest rate is current as at 11 September 2013 and is subject to change or withdrawal without notice. HSBC Premier qualification criteria apply e.g. combined lending of NZD500,000 or more or NZD100,000 of savings and investments with HSBC. Early repayment fees may apply to fixed rate loans. To qualify for this offer customers must have at least 20% deposit or equity. HSBC Premier Terms and Conditions, Retail Banking and Wealth Management Terms and Conditions apply. The Global View and Global Transfer service is subject to terms and conditions, which are available online at hsbc.co.nz. Global View and Global Transfers are available in over 30 countries. Daily transfer limits apply. Issued by The Hongkong and Shanghai Banking Corporation Limited, incorporated in the Hong Kong SAR, acting through its New Zealand branch (“HSBC”).
HSBC in New Zealand
HSBC in New Zealand operates through a network of branches and offices, providing personal and commercial financial services, payment and cash management, trade finance, treasury and financial markets, corporate banking, investment advisory and securities custody services. The principal HSBC Group member in New Zealand is The Hongkong and Shanghai Banking Corporation Limited, incorporated in Hong Kong SAR, acting through its New Zealand branch.
3. The Hongkong and Shanghai
Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group, which serves around 55 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The Group serves customers worldwide from around 6,600 offices in 80 countries and territories in Europe, Hong Kong, Rest of Asia-Pacific, North and Latin America, and the Middle East and North Africa. With assets of US$2,645bn at 30 June 2013, the HSBC Group is one of the world’s largest banking and financial services organisations.