TSB Bank has launched a market leading home loan rate for a two year fixed mortgage.
Their 'special' is just 5.39%.
The unique thing is that it is a 'Facebook exclusive' offer.
And it is for one week only, expiring on January 28, 2015.
At this rate, TSB Bank have now claimed the lowest two year rate in the market of all banks.
It is the latest twist to the marketing campaigns by banks to distinguish their home loan offers.
TSB Bank spokesperson Phil Gerard said that the offer is a 'reward' for their almost 34,000 'fans' (likes). At that level, TSB Bank is the third most 'liked' New Zealand bank on Facebook.
Here is the offer ...
Here are the Conditions:
To redeem your offer, take this email to TSB Bank NZ and show it to the staff from your phone or in print.
Terms & Conditions: TSB Bank Ltd’s current lending criteria, interest rates and fees apply. Offer available on TSB Bank's Facebook Page only, between 22-28 January 2015. Promo code 'FACEBOOK' must be quoted to take up this offer. Quoted interest rates are applicable for the purchase/building or refinancing from another financial institution of owner-occupied residential housing loans. Minimum loan value is $100,000. An interest rate margin will apply for loans in excess of 80% of valuation. Floating and other fixed rate options are also available. A fixed loan prepayment fee may apply on fixed rate loans. Interest rates may change at any time without notification. No other promotion, offers, incentives or subsidies are available in conjunction with this offer. Not available to Mortgage Brokers.
The trend of rate reductions may be extended.
Today 2 year swap rates fell by another -6 bps to just 3.63%. These types of reductions at the wholesale level open the door to more cuts at the retail level.
See all banks' carded, or advertised, home loan rates here.
The current non-rate incentive offers are here.
This is how mortgage rates from the banks compared as at 9:00 am Thursday, January 22, 2015:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
 |
5.59% | 5.70% | 5.55% | 5.99% | 6.49% | 6.59% |
 |
5.59% | 5.70% | 5.55% | 5.59% | 5.99% | 6.49% |
 |
5.69% | 6.09% | 5.75% | 5.59% | 6.49% | 6.59% |
 |
5.69% | 5.55% | 5.89% | 6.39% | 6.49% | |
 |
6.09% | 5.75% | 6.39% | 5.99% | 6.79% | 6.49% |
| Co-op Bank | 5.59% | 5.59% | 5.59% | 5.74% | 5.99% | 6.25% |
 |
5.45% | 5.65% | 5.99% | 6.49% | 6.79% | |
| SBS Bank | 5.59% | 5.74% | 5.49% | 5.69% | 6.19% | |
 |
5.70% | 5.90% | 5.39% | 5.95% | 6.40% | 6.50% |
--------------------------------------------------------------
Mortgage choices involve making a significant financial decision so it often pays to get professional advice. An AMP360 mortgage broker can be contacted by following this link »
--------------------------------------------------------------
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.