Kiwibank has cut more fixed home loan rates, with the changes effective Monday, April 23, 2018.
Three of these new rates are likely to be market-leading.
Its lowest offer is still 4.29%, a 'special' for one year, unchanged, and matching TSB, but not as sharp as ANZ or HSBC Premier.
Its new two year fixed rate will become 4.49% as a 'special', down -16 bps, and now matching BNZ, but not as low as HSBC Premier's 4.29%
However, for three years, their cut is -14 bps taking their new rate to 4.85% as a 'special' and that is better than any bank rival.
Also better than any other bank rival is their four year offer which will become 5.19% which is a standard rate and at least -10 bps lower than the next lowest, and a -46 bps reduction.
And their new five year fixed rate will become 5.39% as a standard rate and that is -30 bps reduction, making it -16 bps lower than the next lowest from SBS Bank.
'Special' rates require at least 20% equity in the property involved.
Here is the full snapshot of the fixed-term rates on offer from the key retail banks.
|below 80% LVR||6 mths||1 yr||18 mth||2 yrs||3 yrs||4 yrs||5 yrs|
|as at March 23, 2018||%||%||%||%||%||%||%|
In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.
And TSB still has a 10-year fixed rate of 6.20%.