ANZ has trumped its rivals with a new low one year fixed mortgage rate offer.
It has tweaked its 4.19% 'special' rate down -4 bps to 4.15%.
Apart from the 3.99% HSBC Premier offer for the same fixed term, this is now the lowest bank rate in the market and sure to attract the attention of its rivals.
ANZ is the largest home loan lender in New Zealand.
At 4.15%, this is the lowest one year fixed rate the bank has ever offered.
No other changes have been announced with this one (although their standard one year rate was also reduced by the same -4 bps to 4.65%).
And this announcement doesn't come with matching term deposit rate reductions.
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 October 1, 2018||%||%||%||%||%||%||%|
In addition to the above table, BNZ has a fixed seven year rate which has been reduced recently to 5.95%.
And TSB still has a 10-year fixed rate of 6.20%.