TSB Bank has introduced a 4.95%, 15 month fixed-term home loan rate, which is available only to customers coming across from other banks.
TSB says the offer's available to those looking to borrow at least NZ$100,000 and who have have equity of at least 25% in their property.
"(The) special offer (is) available for the purchase or refinance from another bank of residential owner occupied properties only," TSB said.
The offer also includes a legal fee subsidy based on 0.50% of the loan amount, up to a maximum of NZ$1,000.
TSB is currently the only bank promoting a 15 month fixed rate. Several other banks have 18 month rates with Kiwibank's 5.19% the lowest advertised one. See all bank's advertised home loan rates here.
2 Comments
There's no competition for deposit funds with the demise of the finance sector.
That's $800m income that was going to nz investors being sucked out and shipped across the Tasman.
No wonder the banks profits are bloated and investors here are moaning about crappy returns.
Role back 40 years and it was exactly this situation that created the finance co. Has anything been learnt?
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