Kiwibank has launched a fresh "limited time special” home loan offer with a one-year interest rate of 4.89%.
The bank says, unlike the current special offers from the big four banks, its offer isn't dependant on borrowers having a deposit of at least 20% or equity in their property of at least 20%.
The offer's available to both new and existing customers.
The 4.89% rate cuts 36 basis points off Kiwibank's previous one-year rate and is now the lowest advertised one-year rate from a bank.
Kiwibank, which has been offering a "special" 4.99% two-year rate, has ended that offer and increased its two-year rate to 5.25%.
See all advertised mortgage rates here.
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
 |
4.95% | 5.45% | 5.80% | 6.10% | 6.30% |
 |
4.95% | 5.45% | 5.75% | 5.95% | 6.25% |
| BNZ | 4.95% | 5.40% | 5.80% | 6.10% | 6.30% |
| Kiwibank | 4.89% | 5.25% | 5.65% | 5.99% | 5.99% |
 |
4.94% | 5.45% | 5.90% | 6.15% | 6.25% |
| Co-op Bank | 4.99% | 5.35% | 5.75% | 5.99% | |
| HSBC Premier | 4.99% | 4.99% | 4.99% | 5.50% | 5.75% |
| SBS / HBS | 4.99% | 4.99% | 5.65% | 5.99% | |
 |
5.25% | 5.30% | 5.75% | 6.10% | 6.30% |
TSB Bank still has a low rate Special 15 month offer of 4.95%.
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5 Comments
The enticement offers are coming thick and fast - are matters in the property purchasing world worse than I believe they are - what else can explain what I would call loss leader loan offers?
Hi Gareth - here is the RBNZ' funding gap analysis
The forecast average cost of funds in the one year time frame is subject to the real possibility of significant rises and or moving out of Kiwibank's reach completely, thus making the in all net costs of funding this offer a losing bet.
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