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

 

BNZ introduces new 1-year fixed term interest rate


Bank of New Zealand has introduced a new 1-year fixed term interest rate of 4.39% p.a, effective Friday 9 February, 2018.

BNZ Director of Retail and Marketing Paul Carter says this rate gives customers the flexibility to fix a competitive rate and pay off their loan faster.

“Our latest BNZ Financial Futures research has told us 66% of Kiwis with a mortgage look into their home loan structure and repayments regularly. This is a great opportunity for people looking for a great deal to maximise their repayments and therefore pay off their loans faster.
“New Zealanders are still enjoying some of the lowest interest rates in a generation and the economic outlook indicates that may continue for most of 2018,” Mr Carter says.

“However, it’s not a time to be complacent. It’s a good time for people with home loans to consider their position and make sure they are making the most of the low interest rates to pay off their mortgage faster,” he says.

Lending criteria, terms and fees apply. The rate is available for customers with a 20% deposit. The rate is not available for some investor lending.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

More To Do: Tax Working Group Publishes Interim Report

Chair Sir Michael Cullen says that the Group has conducted a wide-ranging review in order to assess the structure, fairness, and balance of the tax system. The Group has also brought a broad conception of wellbeing and living standards to its work... More>>

ALSO:

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO:

Talking Up The Economy: NZD Gains On PM's Mistaken GDP Comment

Her comments were downplayed by her chief press secretary who said she was referring the government's June year financial statements and had "made a mistake." More>>

ALSO: