Source: ASB Bank
Thursday 3 September 2026
In response to the Reserve Bank of New Zealand’s move to increase the Official Cash Rate from 2.50% to 2.75%, ASB is increasing its variable home loan rates by 25 basis points. ASB is also increasing the interest rates on its Savings Plus product by 25 basis points, and its Headstart savings product by 10 basis points.
ASB Executive General Manager Personal Banking Adam Boyd says rising interest rates can be challenging for some homeowners and buyers.
“Recent data shows most of our customers are managing well, with 45% of our home lending book ahead on repayments by a month or more. However, we recognise not everyone is in the same position.
“Our teams are ready to support customers who may need extra help and can work with them to explore options that suit their circumstances. Reaching out early gives us the best opportunity to find a solution together.
“We also encourage customers to regularly review their savings arrangements. We offer a range of savings products, including bonus saver accounts and competitive term deposits, which may help customers make the most of their savings.”
| Home Loan | Current Rates | New Rates | Rate Change |
|---|---|---|---|
| Housing Variable | 6.04% | 6.29% | + 0.25% |
| Orbit Variable | 6.14% | 6.39% | + 0.25% |
ASB’s new variable home loan rates are effective from Wednesday 9 September for new customers, and from Thursday 10 September for existing customers.
| Savings | Band | Current Rates | New Rates | Rate Change |
|---|---|---|---|---|
| Savings Plus** | 1.80% | 2.05 % | + 0.25% | |
| Headstart* | All Balances | 1.95% | 2.05% | + 0.10% |
*This change is effective from Thursday 10 September.
**This change is effective from Thursday 1 October.
ASB has practical information for customers on the current interest rate environment available on its websitehttps://www.asb.co.nz/home-loans-mortgages/preparing-for-rising-interest-rates.html as well support to help customers take control of their financial wellbeing and achieve their goals at its Financial Wellbeing Hubhttps://www.asb.co.nz/banking-with-asb/financial-wellbeing.html.