Kiwibank has relaunched its special fixed rate of 4.99% p.a., but for a shortened term of six months.

The original special launched in May this year was for 12 months.

The special retains the requirement of 30% or more equity in the property.

The one-year promotion resulted in an unprecedented response from home owners seeking a level of certainty and protection from rate rises.

The 4.99% rate is 0.26% below the bank's regular carded rate and 0.66% below its variable rate.