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

16 July 2014

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

HSBC New Zealand, the global bank for New Zealanders, announces that it has reduced its HSBC Premier three-year fixed home loan rate by 0.4% to 5.85% per annum. This is the lowest three-year fixed residential mortgage rate currently being offered by a bank on the New Zealand market, where the median rate is 6.45% per annum*. This rate is further supported by reductions to its one and two year fixed tenors, also to 5.85% per annum.

These special home loan rates are 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.

“We are excited to bring this market-leading winter home loan offer to our customers to mark the global relaunch of the HSBC Premier offering locally,” says Glen Tonks, Head of Retail Banking and Wealth Management at HSBC New Zealand. “These options mean that our Premier customers can get the fixed rate tenors that work best for them at very competitive rates, and recent discussions indicate that many customers are now considering longer term fixed rates.”

"The relaunch of HSBC Premier is all about placing the customer at the centre of everything we do. Our team of experienced relationship managers provides each Premier customer with personalised support to help them manage their own personal economy,” 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. 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:

Fixed termSpecial rate % p.a.New rate % p.a.
6 months fixed-5.65
1 year5.8515.95
2 years5.8515.99
3 years5.8516.25
4 years-6.89
5 years-6.99

*Source: Market rates compared using www.goodreturns.co.nz as at 9.00am on Wednesday, 16 July 2014. Graph below 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

1. Home loans Offer
This offer is available starting 16 July 2014 only to new HSBC Premier customers, and existing HSBC Premier customers who borrow at least an additional NZD100,000. HSBC’s normal lending criteria applies. Interest rate(s) are current as at 16 July 2014 and are 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 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 over 75 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,758bn at 31 March 2014, HSBC is one of the world’s largest banking and financial services organisations.

ENDS

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