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HSBC sets a new low benchmark

HSBC has cut its fixed home loan rates across the board offering what is a new historic low rate.

Monday, September 2nd 2019, 9:36AM

Martine Milicich

HSBC New Zealand has cut its fixed home loan rates across the board to offer a flat rate of 3.35% p.a. for tenors between one and five years.

 

This is the lowest mortgage rate that HSBC has ever offered in the New Zealand market. It is significantly lower than its 3.69% p.a. for a two-year fixed mortgage in March this year, which at the time was the lowest fixed home loan interest rate offered in the New Zealand market for over half a century.

 

No other bank in the market currently offers a fixed term mortgage rate below *3.55% p.a.

 

“We are pleased to offer New Zealanders the opportunity of a single, market-leading interest rate of 3.35% p.a. for one through five-year fixed home loans,” said Martine Milicich, Head of Retail Banking and Wealth Management at HSBC New Zealand.

 

“What I like about this offer is that our customers can choose the term(s) that best suits their individual needs,” she added.

 

This special home loan rate is being offered for a limited time to new HSBC Premier customers, and existing HSBC Premier customers who borrow an additional NZD100,000 or more. HSBC Premier qualification, minimum deposit and equity criteria apply.

 

HSBC Premier is the bank’s flagship global personal banking proposition. Every HSBC Premier customer in New Zealand has a dedicated local relationship manager. There are a range of additional benefits, including the ability via ‘Global Transfers’ to move money internationally between your own HSBC accounts in real time and free of charge.

Tags: HSBC

« Mortgage servicing rate cuts Govt makes KiwiBuild loans easier, drops 100,000 homes target »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.15 4.09 4.49
ANZ Special - 3.65 3.59 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
BNZ - Classic - 3.65 ▼3.54 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 3.99
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.65 3.59 3.99
Median 5.35 4.15 4.09 4.19

Last updated: 16 September 2019 10:03am

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