ICBC New Zealand, the local arm of Chinese banking giant Industrial and Commercial Bank of China, has made its carded term deposit rates and home loan rates available to interest.co.nz.
The bank, which received banking registration from the Reserve Bank last November and has ex-Reserve Bank Governor Don Brash as chairman, is offering fixed-term mortgage rates for six months, one year, 18 months, and two years, plus a floating rate.
It's offering term deposit rates for terms of one to 24 months, with the rates below provided, plus a separate "saving" rate.
ICBC has leased office space in Auckland's PwC Tower and has a branch at number 2 Queen Street.
Below are the bank's carded home loan rates.
| Type | Term | Home loan rate |
| Fixed | 6 months | 5.80% |
| Fixed | 12 months | 5.99% |
| Fixed | 18 months | 6.25% |
| Fixed | 24 months | 6.39% |
| Floating | 6.75% |
Of its term deposit rates ICBC says fixed investment terms range from one to 24 months, with special rates available on selected terms. A minimum opening balance of $5,000 is required. The rates in the table below are for deposits of up to $1 million, with all rates subject to change without notice.
| Term | $5,000-$9,999 | $10,000-$49,999 | $50,000+ |
| 1 month | 2.00% | 3.15% | 3.25% |
| 3 month | 2.00% | 3.50% | 3.60% |
| 6 month | 2.00% | 4.05% | 4.15% |
| 12 month | 3.00% | 4.40% | 4.50% |
| 24 month | 3.00% | 4.90% | 5.00% |
| Saving rate | 2.50% |
Follow the links below to see how ICBC's rates compare with other banks' carded rates.
See all banks' carded, or advertised, home loan rates here.
See all banks' carded term deposit rates for one to nine months here and see all banks' carded term deposit rates for one to five years here.
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