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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 lending | Previous Rates | New 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% |
ASB Bank
Helping you get one step ahead.
In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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