A major bank pulls back from sub 5% mortgage rate, ends Classic special

A major bank pulls back from sub 5% mortgage rate, ends Classic special

BNZ has withdrawn is 4.95% one year fixed mortgage rate available as part of its Classic product range.

The rate now reverts to 5.25% as a Standard product.

The change positions BNZ as the bank offering the highest one year mortgage rate.

BNZ introduced its 4.95% special rate on May 6, 2013.

Late last week, Kiwibank raised rates too, for its 4 and 5 year fixed rate products.

See all advertised mortgage rates here.

  1 yr 2 yrs 3 yrs 4 yrs 5 yrs
           
4.95% 5.45% 5.80% 6.10% 6.30%
ASB 4.95% 5.45% 5.75% 5.95% 6.25%
BNZ 5.25% 5.40% 5.80% 6.10% 6.30%
Kiwibank 4.89% 5.25% 5.65% 6.10% 6.25%
Westpac 4.94% 5.45% 5.90% 6.15% 6.25%
           
Co-op Bank 4.94% 5.35% 5.75% 5.99%  
HSBC Premier 4.99% 4.99% 4.99% 5.50% 5.75%
SBS / HBS 4.95% 4.99% 5.65%   5.65%
TSB 4.88%* 5.30% 5.75% 6.10% 6.30%

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Just the start of the climb...peasants in debt to the parasites will soon discover the true meaning of "fixed"...!