Kiwibank has today announced a special home loan package for people affected by the earthquakes in Christchurch and eligible for the Government's red zone assistance.

The bank will provide mortgage lending at a 2 per cent discount on its floating rate (presently 5.65%) for a year from draw down.

The loan package is available for those who accept the offer from the Government and wish to purchase or build a property elsewhere. They will be required to contribute the Government's payout towards the property purchase price.

Lending criteria will apply.