BNZ has trimmed six basis points from its two-year "special" mortgage interest rate, but cut a couple of savings rates by 10 basis points.
BNZ's reducing its two-year "classic" mortgage rate for owner occupiers to 3.79% from 3.85%. Although now lower than its major rivals, the cut brings BNZ in line with HSBC's two year rate, but still trails China Construction Bank's 3.65%.
Here is the full snapshot of the advertised 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 July 15, 2019||%||%||%||%||%||%||%|
|China Construction Bank||5.15||5.10||3.65||3.90||5.30||5.30|
|Incl price match promise||4.85||3.85||3.99||3.79||4.05||4.35||4.45|
In addition to the above table, BNZ has a fixed seven year rate of 5.95%.
Meanwhile, BNZ has lowered both its seven month term deposit rate and seven month term PIE rate by 10 basis points to 3.15%.