Kiwibank has cut its one-year home loan rate from 5.25% p.a. to 4.99% p.a. and withdrawn its six-month special promotion.

Kiwibank Chief Executive Paul Brock said the interest rate market is very competitive and it is “great to be able to continue to offer a headline rate below five per cent”.

He said there were no special conditions for the rate such as high deposit requirements and that the one-year term would give customers some certainty as they watched and waited to see what would happen to rates on the longer term.

For further information: Bruce Thompson, Communications Manager, (04) 460 6831