ASB has today reduced its fixed home loan rates by up to 30bps on 3-5 year terms, and increased its 6-month and 18-month terms by 20 and 14 basis points respectively. ASB has also reduced term deposit rates by up to 25 basis points across 2-year to 5-year terms.
ASB’s Executive General Manager Personal Banking Adam Boyd says “Wholesale interest rates continue to be somewhat volatile but longer-term rates have come down recently. These rates play a key role in setting lending and deposit pricing domestically, and mirror broader trends internationally as markets navigate the current landscape.”
“We encourage any homeowners with questions about their lending to speak with us. Getting the right structure in place for individual circumstances can make a real difference, and ASB’s team is available to help work through the options.”
Rate Table
|
Home Loan |
Current Rates |
New Rates |
Rate Change |
|
6 Months |
4.49% |
4.69% |
+20 bps |
|
1 Year |
4.65% |
4.65% |
N/C |
|
18 Months |
4.95% |
5.09% |
+14 bps |
|
2 Years |
5.25% |
5.25% |
N/C |
|
3 Years |
5.49% |
5.29% |
-20 bps |
|
4 Years |
5.69% |
5.49% |
-20 bps |
|
5 Years |
5.89% |
5.59% |
-30 bps |
|
Term Deposit |
Current Rates |
New Rates |
Rate Change |
|
1 Month |
1.80% |
1.80% |
N/C |
|
2 Months |
2.00% |
2.00% |
N/C |
|
3 Months |
3.00% |
3.00% |
N/C
|
|
4 Months |
3.00% |
3.00% |
N/C |
|
5 Months |
3.10% |
3.10% |
N/C |
|
6 Months |
3.45% |
3.45% |
N/C |
|
9 Months |
3.55% |
3.55% |
N/C |
|
12 Months |
3.90% |
3.90% |
N/C |
|
18 Months |
4.00% |
4.00% |
N/C |
|
24 Months |
4.20% |
4.00% |
– 20bps |
|
36 Months |
4.50% |
4.40% |
– 10 bps |
|
48 Months |
4.70% |
4.60% |
– 10 bps |
|
60 Months |
5.00% |
4.75% |
– 25 bps |
ASB has practical information for customers on the current interest rate environment available on its website as well as support to help customers take control of their financial wellbeing and achieve their goals at its Financial Wellbeing Hub.