Bank of New Zealand (BNZ) has announced today it is cutting its floating and fixed home loan rates.
BNZ Chief Customer Officer, Paul Carter, says, “We’re now able to offer more people more options. Many New Zealanders love the certainty a fixed-term home loan gives them, locking in a set repayment for a number of years, while others want to take a more flexible and hands on approach to managing their mortgages with a floating rate offers.”
The changes announced today are:
• Floating: -50 bps to 5.30%
• 2 Year Fixed: -4 bps to 3.75%
More information and terms and conditions on these new rates can be found on the BNZ website at www.bnz.co.nz.
People can apply online, in a branch, or call 0800 275 269.