BankDirect Cuts Interest Rates Again

BankDirect has cut its Variable and FlexiLoan home loan interest rates.

The new rate of 6.40% per annum is in response to the Reserve Bank of New Zealand's cash rate review announced today.

New Rate Rate Previously
6.40% p.a. 6.90% p.a.

New customers will benefit from this new rate immediately, followed by existing customers on December 10th 2001.

"At BankDirect we are committed to passing on interest savings to our customers immediately and this news today is a major boost for mortgage holders," says Head of BankDirect Kevin Leith.

"We are home loan specialists with no expensive branches to support, fewer overheads and on average lending rates than are lower than our competitors."

Customers can find out more online at www.bankdirect.co.nz or may contact a BankDirect home loan specialist by phoning 0800 500 400.

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