Recommended.co.nz | Guide2.co.nz | Voxy.co.nz | Gimme.co.nz
Homepage | login or create an account

Changes to National Bank Home Lending Rates

Read More:
Contributor:
Fuseworks Media
Fuseworks Media

These changes apply to The National Bank's Home Lending and Term Deposit Rates

Wholesale interest rates have recorded decreases across all terms. In addition markets are now forecasting a drop in the OCR, leading to lower interest rates generally. In response to lower wholesale rates, we are today announcing drops in our fixed rate home loan and term deposit rates.

Please be advised that the following changes will come into effect on Wednesday 02 March 2011.

Home Lending

NBNZ Term Old rate New rate Change Variable 6.24% No change 6 Months 6.35% No change 1 Year 6.45% 5.95% -0.50% 18 Months 6.55% 6.29% -0.26% 2 Years 6.65% 6.49% -0.16% 3 Years 7.10% 6.99% -0.11% 4 Years 7.45% No change 5 Years 7.70% No change

Term Deposits

NBNZ Term Old rate New rate Change 3 months 3.50% No change 5 months 4.50% 4.25% -0.25% 6 months 5.00% 4.50% -0.50% 9 months 5.00% 4.60% -0.40% 1 year 5.10% 4.60% -0.50% 18 months 5.40% 4.80% -0.60% 2 years 5.50% 5.00% -0.50% 3 years 5.50% No change 4 years 5.75% No change 5 years 6.00% No change

About guide2.co.nz : money

Find the latest money news and 'how to' guides on Guide2Money.

Ask our researchers your personal finance questions.

Your Questions. Independent Answers.