Source: The Co-operative Bank
The Co-operative Bank has responded to today’s 0.25% Official Cash Rate (OCR) cut by dropping its floating home loan interest rate to 4.99% – a 0.31% cut that continues to put The Co-operative Bank at the lowest widely available floating bank rate in the market.
Chief Executive Mark Wilkshire said “The 4.99% home loan floating bank rate is best in market and affirms our commitment to competitive interest rates for our customer-owners.”
The Co-operative has been offering the lowest home loan floating rate that is widely available to all customers in the market for the last 12 months.
Over the last four years, on both the last OCR rates upcycle and downcycle, The Co-operative Bank has passed on to its floating home loan customers the largest cut to rates on the way down and the smallest increase on the way up.
We are encouraging New Zealanders to select a bank that delivers the service that people should expect from a bank.
About the Co-operative Bank
We are a New Zealand Co-operative 100% owned by our customers. We are the only bank that shares its profits directly with customers in the form of rebates when we make sufficient profit. Since 2013, we’ve shared over $24 million with customers.
We are also proud members of the B Corp movement which recognises businesses that meet better standards of social and environmental performance.
