Kiwibank will pass on the full 0.75% official cash rate cut to customers with floating home loan rates.
Kiwibank will reduce its floating home loan rate from 5.15% to 4.40%. Changes for new customers are effective Friday 20 March, and for existing customers Friday 3 April.
|
Product |
Current rate p.a. |
New rate p.a. |
Change |
|---|---|---|---|
|
Variable rate |
5.15% |
4.40% |
-0.75% |
|
Revolving rate |
5.20% |
4.45% |
-0.75% |
|
Offset rate |
5.15% |
4.40% |
-0.75% |
Kiwibank Chief Executive Steve Jurkovich says: “At Kiwibank, our commitment is to support our customers and the wider New Zealand economy as the Coronavirus (COVID-19) situation evolves. Like the government and businesses across New Zealand, we’re doing what we can to respond.”
The disruption to travel and trade caused by coronavirus has affected a range of New Zealand businesses. Kiwibank is bolstering resources to support customers financially affected by the global outbreak.
The relief package features a range of support options for both business and personal customers. These may include:
- Temporary overdraft facility
- Interest only option for personal and business lending
- Three-month repayment holiday
Any business or personal customer concerned about their situation should get in touch with us to discuss their needs.
Media enquires contact: Kara Tait, Kiwibank External Communications Manager - 027 475 3521