ASB has introduced a new five year fixed rate special of 6.85% (also offered by Bank Direct and Sovereign).
The special five year rate applies to new and existing lending for customers who have at least 20% equity, an ASB credit card and have salary or wages credited to their main transaction account with ASB.
The bank has also shaved 4 points off its two year special.
Meanwhile, Kiwibank has reduced it two year fixed rate for <80 LVR lending to 5.85%. The standard two year rate for >80 lending remains 6.19%.
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