A number of Chinese banks offer very competitive rates for home loans. One of them is China Construction Bank (NZ) Ltd, a bank you may not be familiar with.
This article gives you some background and shows how NZ borrowers can get access to these great rates.
If you require a home loan of at least $500,000 and if you’re borrowing up to 80% of your owner occupied property, or up to 70% of your investment property, for refinancing or for a new purchase, you may win significant savings by choosing China Construction Bank (NZ) Ltd.
For example, current offer for a two year fixed home loan is 3.15%p.a. That is seriously better than any of the main lenders in the New Zealand market at present.
Who we are
China Construction Bank (NZ) Ltd was first registered in the local New Zealand Market in late 2014 to provide banking services in New Zealand. China Construction Bank Corporation is currently the 2nd largest bank in the world by Tier 1 Capital at $US287 billion in 2019* and has 14,977 banking outlets and over 29 branches and subsidiaries in 29 countries worldwide. We are Chinese owned, delivering our customers the advantages of a global bank with local knowledge in every continent.
Locally, our residential lending policies and processes are similar to all New Zealand and Australian owned banks – possibly even simpler since there is no requirement for you to switch your main bank accounts over to us.
Why we are a great option
China Construction Bank (NZ) Ltd has launched a market leading* 3.15% mortgage rate for one, two years and 3.19% for three years with choices of shorter or longer fixed terms to suit your financial requirements.
3.15% is unprecedentedly low for a fixed rate mortgage. As an example, a loan amount of $500,000 at 3.15% p.a. could save you $2,000 in interest costs per year* compared with the most common 3.55% p.a. rate that most large banks are offering at the moment.
There is no catch. We prefer to make things easy. If you incur a break fee to move your loan to China Construction Bank (NZ) Ltd, you may be eligible for a break cost contribution*. Ask us about the conditions.
What to do next
If you want to take advantage of our great home loan interest rates, please email us at homeloan@nz.ccb.com, you will be assisted by one of our specialists. Alternatively you can find out more of our contact details at this link.
Our office is at level 29, in the Vero Building, at 48 Shortland Street, Auckland. We are open 9am to 5pm, Monday to Friday and you can visit us by appointment.
Other things you should know
Here are some more disclosures for the items marked * in this article.
- Our standard mortgage application processing time is between 3 – 5 business days.
- China Construction Bank NZ Ltd offers pre-approvals that are valid for 60 days with a $500 application fee payable on application. This fee is refundable on drawdown OR if loan application is unsuccessful.
- Our mortgage documents are just like any other banks in New Zealand, in English to local standards for New Zealand conditions and New Zealand law.
- All loans are subject to credit criteria. For terms & conditions please see China Construction Bank NZ’s website www.nz.ccb.com
- The rates mentioned in this article are current offers as at 29 October 2019. Rates are subject to change.
- The comparisons mentioned in this article is based on a home loan over a 30 year term.
- The source for the size of China Construction Bank is from Top 10 World Banks: https://www.thebanker.com/Top-1000-World-Banks/Top-1000-World-Banks-2019-The-Banker-International-Press-Release-for-immediate-release
