HSBC New Zealand has, reportedly, reduced its two-year fixed home loan rate by 0.5% to 5.79% per annum, making it the lowest rate being offered by any bank in the country.
Available for a limited period, the new rate is offered only for new and existing HSBC Premier customers who have a minimum mortgage loan of NZD100,000 ($85,595). Also, the borrowers must have at least 20% deposit or equity to avail the offer.
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HSBC New Zealand retail banking and wealth management head, Glen Tonks, said with the RBNZ having raised its Official Cash Rate (OCR) by 0.25% on 13 March to 2.75%, and the majority of market commentators expecting the OCR to rise to at least 4.50% by the end of 2015, this could be the ideal time to become an HSBC Premier customer and take advantage of both this very competitive two-year fixed rate, as well as the many other benefits of the HSBC Premier offering.
HSBC’s personal banking account, HSBC Premier, provides customers with benefits such as no fees at ATMs of any bank in New Zealand, commission-free foreign currency exchange at any HSBC branch across the world and the ability to transfer money between own HSBC accounts internationally for free within 30 seconds.
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