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Kiwibank slashes five-year rate

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Fuseworks Media
Fuseworks Media

Kiwibank is slashing its five-year home loan rate in response to market conditions as a result of the Reserve Bank’s change in outlook today (Wednesday 27 March).

Kiwibank chief marketing officer Mark Wilkshire said: "This is no April Fools’ joke. Kiwibank’s five-year rate will be cut by 80 bps to 4.29% p.a. from Monday 1 April.

"Market conditions have allowed for a price change and we are being quick to pass on this benefit to New Zealanders. This change enables us to offer lower rates for the longer-term. We’re all about Kiwis making Kiwis better off and this will certainly enable more Kiwis to fulfil their home ownership goals."

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