TSB, SBS, HBS and The Co-operative Bank have all made changes to their rates - some are tweaks, some are market leading and others have conditions.
The biggest play comes from TSB which is offering 4.88% for 12 months. This is a market leading rate however borrowers need to have a minimum loan balance of $250,000, it has to be new borrowing rather than refinance and there has to be a minimum of 20% equity in any deal.
Kiwibank has the next-cheapest one-year rate of 4.89%, which has no LVR restrictions and is also available to existing customers.
SBS and its subsidiary HBS have shaved four basis points from their one-year fixed rate to bring it to 4.95% and knocked 34 points from the five-year rate taking it to 5.65%.
TSB has also withdrawn its 15 month rate of 4.95%.
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