ASB has today announced changes to some of its most popular fixed home lending rates, including the 6-month and 1-year terms. ASB’s 1-year term drops 20 basis points from 5.79% to a market- leading rate of 5.59%, while its 18-month term also drops 20 basis points to 5.39%.
ASB’s General Manager Product Emma-Jayne Liddy says “We want to help customers looking to refix, or Kiwi looking to buy, get off to a strong start in 2025. Today’s rate changes reflect the recent fall in short-term wholesale rates. With more than two-thirds of our mortgage customers opting for a term of 18-months or less, we expect these changes to be popular.”
ASB has also reduced some of its term deposit rates by between 5 and 25 basis points.
All rate adjustments are effective immediately for new and current customers.
|
Fixed home lending term |
Previous rate |
New rate |
Rate decrease |
|
6-month |
6.19% |
5.99% |
-20 bps |
|
1-year |
5.79% |
5.59% |
-20 bps |
|
18-month |
5.59% |
5.39% |
-20 bps |
