Kiwibank has cut its one-year mortgage rate from 5.25 per cent to 4.89 per cent. Photo / NZH
Kiwibank has cut its one-year mortgage rate from 5.25 per cent to 4.89 per cent. Photo / NZH
Kiwibank has today reduced its one-year home loan rate by 26 basis points and withdrawn a six-month special promotion which was its lowest ever rate.
The bank cut its one-year fixed-term rate from 5.25 per cent to 4.99 per cent.
Chief executive Paul Brock said given the competitive interest ratemarket it was "great to be able to continue to offer a headline rate below five per cent".
He said there were no special conditions for the rate such as high deposit requirements.
The one-year term would give customers some certainty as they watched and waited to see what would happen to rates in the longer term, he said.
