Kiwibank has announced a full 0.25% increase in its floating mortgage rate, passing on all the recent OCR hike.
These increases include its normal floating rate home loans, its offset mortgage and its revolving credit loans.
The Kiwibank offset loan rises to 5.90% whereas the other products rise to 6.15%.
The state-owned bank made no announcements for savings or term deposit products when it advised the mortgage rate changes.
Today's change positions Kiwibank mid-pack among banks.
Kiwibank is the third bank to so far announce a higher home loan floating rate following last Thursday's rise in the official cash rate to 3.0%.
A feature of announcements this time compared with the March rises is that there are no accompanying term deposit rate rsie announcements.
ANZ and ASB are the only other banks to announce April variable home loan rises; they both adjusted a bonus saver product higher, and ASB raised term deposit rates for terms 1-5 months back to market levels, but otherwise no other term deposit products.
(Update: This story records ASB's recent term deposit rises for terms 1-5 months.)
Kiwibank's new floating home loan rates compare with their main rivals today as follows:
| below 80% LVR | Floating | Revolving |
| Credit | ||
 |
6.24% | 6.35% |
 |
6.25% | 6.25% |
| BNZ - Total Money | 5.99% | 5.99% |
| BNZ - Standard & FlyBuys | 6.19% | 6.19% |
| Kiwibank | 6.15% | 6.15% |
 |
5.74% | 6.00% |
| Co-op Bank | 5.95% | 5.95% |
 |
6.24% | 6.24% |
| SBS / HBS | 5.90% | 5.90% |
| TSB | 6.04% | 6.04% |
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