TSB Bank has withdrawn its advertised one year 4.88% home loan "special" and replaced it with a 4.95% 15 month rate.
TSB says the new offer applies to new borrowing worth at least $100,000 for buying, building or refinancing from another bank, plus additional lending to existing TSB customers.
The bank says it'll pay up to $1,000 towards customers' legal fees and the new special offer will run until August 24.
No other banks are currently advertising home loans for a term of 15 months. See all advertised mortgage rates here.
TSB's one year special was only available for new borrowing worth at least $250,000, and on deals with a maximum loan-to-value ratio (LVR) of 80%.
The new special offer has no special LVR criteria attached, but TSB says a low equity insurance premium, or interest margin, may apply for loans with LVRs above 85%.
The one year special had been in place since early mid-June, having replaced a previous 15 month special of 4.95%.
With the previous 15 month offer TSB provided up to $1,000 towards legal fees plus an iPad or iPhone 5.
Separately, TSB has also cut some term deposit rates by between five and 10 basis points.
See all advertised term deposits for one month to nine months here and see all advertised term deposit rates for one year to five years here.
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