Kiwibank is offering a 2.99% fixed interest rate for one-year effective Monday May 11, 2020.
This is Kiwibank’s first ever sub 3% home loan interest rate.
Kiwibank General Manager of Product Nicole Pervan says the move is about providing value to customers.
“Customers with a fixed interest rate expiring within the next month are likely to roll onto a new interest rate 1% lower than their current rate.
“On an average sized loan this will reduce repayments from $50 to $70 a week which will go a long way at this time. Customers have the flexibly to pay off their loan faster or keep that money in their back pocket for a rainy day.”
Kiwibank is committed to support Kiwis and New Zealand business as we all work to recover from the impacts of Covid-19.
The rate is available for both new and existing customers with 20% equity and will be available from Monday 11 May 2020.