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ASB Drops Home Lending And Term Deposit Rates

Today ASB has made changes to its home lending rates, decreasing its two-year rate by 16 basis points from 7.05% to 6.89%. ASB’s three-year rate has dropped by 10 basis points from 6.85% to 6.75%. ASB has also adjusted some of its long-term term deposits, lowering the 24 month-term deposit to 5.80% and all terms between 36 and 60 months to 5.50%.

“Today’s rate changes reflect falling wholesale rates in recent weeks and will be welcome news for many of our customers, particularly as our two-year home lending term continues to grow in popularity” says ASB’s Executive General Manager Personal Banking Adam Boyd.

ASB’s home lending and term deposit rate changes below, effective Friday 22 December 2023.

Fixed home lendingPrevious RatesNew Rates
2 year 7.05% 6.89% 
3 year 6.85% 6.75% 
Term deposits

Previous Rates (p.a)

($5,000+)

New Rates (p.a)

($5,000+)

24 months 6.00% 5.80% 
36 months 5.55% 5.50% 
48 months 5.55% 5.50% 
60 months 5.55% 5.50%
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