HSBC offers lowest two-year fixed home loan rate in NZ

18 March 2014

HSBC offers lowest two-year fixed home loan rate by a bank in New Zealand

HSBC New Zealand announces that it has reduced its HSBC Premier two-year fixed home loan rate by 0.5% to 5.79% per annum. This is the lowest two-year fixed residential mortgage rate currently being offered by a bank on the New Zealand market*.

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 the RBNZ having raised its Official Cash Rate (OCR) by 0.25% on 13 March to 2.75%, and the majority of market commentators expecting the OCR to rise to at least 4.50% by the end of 2015, this could be the ideal time to become an HSBC Premier customer and take advantage of both this very competitive two-year fixed rate, as well as the many other benefits of the HSBC Premier offering,” said Glen Tonks, Head of Retail Banking and Wealth Management at HSBC New Zealand.

“HSBC won the 2013 Best Regional Retail Bank in Asia award from The Asian Banker Magazine,” he added.

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 and the ability to transfer money internationally between your own HSBC accounts free of charge in as little as 30 seconds.

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 rates:
(All rates effective 19 March 2014 except where noted)

HSBC Premier floating home loan rate:

#The floating change is effective from 3 April 2014 for new and existing lending.

Online Savings Account:

*Source: Market rates compared using www.goodreturns.co.nz as at 1.00pm on Tuesday, 18 March 2014.

Graph of seven major New Zealand bank rates – from www.goodreturns.co.nz

This offer is available starting 19 March 2014 only to new to bank HSBC Premier customers, and existing HSBC Premier customers who borrow an additional NZD100,000. HSBC’s normal lending criteria applies. Interest rate is current as at 19 March 2014 and is subject to change or withdrawal without notice. HSBC Premier qualification criteria applies, 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. 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.

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 54 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 over 6,300 offices in 75 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$2,671bn at 31 December 2013, the HSBC Group is one of the world’s largest banking and financial services organisations.

ENDS

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