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.
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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
Tue, 01 Mar 2011
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ANZ, National banks lower mortgage, deposit rates
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