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TSB Bank launches 10 year fixed rate home loan

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Fuseworks Media
Fuseworks Media

TSB Bank has today announced its offer of a 10 year fixed rate home loan, a first for the New Zealand market.

The fixed rate of 5.89 per cent per annum for residential and investment property loans is available for buyers with a minimum deposit of 20 per cent.

"We’re delighted to offer New Zealand’s very first 10 year fixed home loan giving Kiwi families and property investors certainty to plan for the long term with a competitive interest rate," said TSB Bank CEO Kevin Murphy.

Indications show the residential property market will respond positively to TSB Bank’s new lending offer.

"We canvassed home owners who had taken out a mortgage or renewed their mortgage in the last 5 years and they described our new offer as ‘highly appealing," said Kevin Murphy.

"TSB Bank’s 10 year fixed home loan offer is enticing for those wanting to refinance their home loans, new home owners and residential property investors looking for certainty in servicing their debt," he said.

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