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

 


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)

Fixed termSpecial rate % p.a.New rate % p.a.Old rate % p.a.
6 months fixed5.395.25
1 year-5.595.39
2 years5.7916.296.29
3 years-6.556.55
4 years-6.996.99
5 years-7.207.20

HSBC Premier floating home loan rate:

New rate % p.a.#Old rate % p.a.
Floating6.245.99

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

Online Savings Account:

New rate % p.a.#Old rate % p.a.
HSBC E-saver3.002.75

*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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news