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


Kiwibank Moves To Lower Home Loan Rates After OCR Cut Announced

Kiwibank will pass on the full 0.75 percent official cash rate cut to customers with floating home loan rates.

Kiwibank will reduce its floating home loan rate from 5.15 percent to 4.40 percent.


Product Current rate p.a. New rate p.a. Change 
Kiwibank Variable 5.15% 4.40% -0.75% 
Kiwibank Revolving 5.20% 4.45% -0.75% 
Kiwibank Offset 5.15% 4.40% -0.75% 

Kiwibank Chief Executive Steve Jurkovich says: “At Kiwibank, our commitment is to support our customers and the wider New Zealand economy as the Coronavirus (COVID-19) situation evolves. Like the government and businesses across New Zealand, we’re doing what we can to try to respond to the evolving situation.”

The disruption to travel and trade caused by coronavirus has affected a range of New Zealand businesses. Kiwibank is bolstering resources to support customers financially affected by the global outbreak.

The relief package features a range of possible support options for both business and personal customers. These may include:

  • Temporary overdraft facility
  • Interest only option for personal and business lending
  • Three-month repayment holiday

Any business or personal customer concerned about their situation should get in touch with the New Zealand owned bank to discuss their needs.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>


Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>


Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>


Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>