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Media Alert: ASB Drops Mortgage Rates Further
For the second time in a week, ASB has reduced its home lending rates. Effective today, ASB’s one-year lending rate has dropped 10 basis points from 7.39% to 7.29%, and its two-year lending rate has also decreased from 6.89% to 6.85%. ASB has also increased its 6-month term deposit rate by five basis points to 6.05%.
Today’s rate changes follows ASB’s 18-month mortgage adjustment last Tuesday which dropped 26 basis points to 6.89%, leading the major banks for that term.
The following can be attributed to Executive General Manager Personal Banking Adam Boyd.
“We regularly review our rates, and the reduction to some of our key mortgage terms in part reflects how swap rates have responded to the Reserve Bank’s decision to hold the Official Cash Rate at 5.50%. We know that the rising cost of living is affecting our customers, and alleviating a bit of pressure will be welcome news for homeowners in the current environment.”
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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