ASB has today reduced five of its fixed home lending rates by up to 16 basis points, including two of its most popular terms.
ASB’s Executive General Manager Personal Banking Adam Boyd says “We know there are many New Zealanders looking to refix their mortgage or take on the significant title of homeowner this year, and we’re pleased to support them with lower rates. Those considering our 12-month fixed home loan will be paying 2.50% less interest than they would have been 18 months ago. On a loan of $500,000, this reduction in interest translates to an extra $12,500 a year which will make a real difference to many households across the country.”
ASB also reduced some term deposit rates by between 5 and 20 basis points.
All rate decreases are effective immediately.
|
Fixed home lending term |
Previous rate |
New rate |
Rate decrease |
|
6-month |
5.45% |
5.29% |
– 16 bps |
|
1-year |
4.95% |
4.89% |
– 6 bps |
|
3-year |
5.15% |
5.09% |
– 6 bps |
|
4-year |
5.59% |
5.49% |
– 10 bps |
