Kiwibank has today cut all its variable rates by between 0.20% and 0.25% following the Reserve Bank’s reduction in the Official Cash Rate.

Kiwibank will be reducing the Home Loan Variable rate by 0.20% to 5.25%. The Offset rate will reduce by 0.25% to 5.25% and the Revolving Home Loan rate by 0.20% to 5.30%.

The changes support customers looking for flexibility with their lending and are the lowest variable rates Kiwibank has offered since its launch in 2002.

The cuts are effective Monday 15 August for new customers and Monday 29 August for existing customers.

For further information: Clare Pasley, Communications Advisor (04) 496 4924.