close
MENU
1 mins to read

ANZ, National banks lower mortgage, deposit rates


ANZ and National banks have lowered home lending and term deposit rates in response to lower wholesale rates.

NZPA
Tue, 01 Mar 2011

ANZ and National banks have lowered home lending and term deposit rates in response to lower wholesale rates.

The banks today also noted market forecasts of a drop in the official cash rate, which they said would lead to lower interest rates generally.

The banks are lowering their one-year fixed mortgage rate by 0.5 of a percentage point to 5.95 percent, their 18-month rate by 0.26 of a percentage point to 6.29 percent, their two-year rate by 0.16 of a percentage point to 6.49 percent, and the three-year rate by 0.11 of a percentage point to 6.99 percent.

Among the falls in term deposit rates, the one-year rate is being dropped by 0.5 of a percentage point to 4.6 percent, and the two-year rate is dropping 0.5 of a percentage point to 5 percent.

NZPA
Tue, 01 Mar 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.

Free News Alerts

Sign up to get the latest stories and insights delivered to your inbox – free, every day.

I’m already subscribed/joined

Free News Alerts

Sign up to get the latest stories and insights delivered to your inbox – free, every day.

I’m already subscribed/joined
ANZ, National banks lower mortgage, deposit rates
12721
false