Kiwibank Announces Major Cuts to Mortgage and Term Deposit Rates
Kiwibank's Latest Rate Changes
Kiwibank has taken a bold step by announcing further decreases to its fixed home loan and term deposit rates. Effective from today, Kiwibank has reduced rates for its six-month, one, two, three, four, and five-year fixed loans. The following changes have been made:
- One-year loan for 20% equity decreased from 6.45% to 6.29%
- Two-year loan reduced from 5.99% to 5.79%
- Three-year fixed loan cuts from 5.89% to 5.79%
- Four and five-year terms dropped from 5.89% to 5.69%
- Six-month term reduced from 6.89% to 6.85%
Changes in the Standard Rates
Additionally, Kiwibank has made adjustments to the standard rates for those without 20% equity. The bank has also lowered the nine-month and one, two, three, four, and five-year term deposit rates by between 0.10% and 0.30%. Such changes reflect the ongoing adjustments seen across the banking sector as institutions respond to shifting economic conditions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.