HSBC New Zealand has claimed that it is currently offering the lowest one and two-year fixed residential mortgage rates to its Premier customers compared to any other New Zealand bank.

Apart from offering one and two-year fixed residential mortgage rates at 5.59% per annum and 5.79% per annum, respectively, the bank also slashed its HSBC Premier five-year fixed home loan rate by 21 bps to 6.99% per annum, joining several other banks in offering the market-leading rate.

In addition, the bank reduced its four-year fixed home loan rate by 10 bps to 6.89% per annum, which makes HSBC one of the few banks in New Zealand with its home loan rate card all under 7% per annum.

HSBC New Zealand Retail Banking and Wealth Management head, Glen Tonks, said the bank has one of the most competitive fixed-term home loan propositions currently offered by any other bank in New Zealand, with market-leading rates across several tenors.

"If you are currently considering your mortgage options or buying a residential property, please come and talk to us about becoming an HSBC Premier customer to enjoy our attractive fixed home loan rates and the many other benefits of the HSBC Premier offering," Tonks added.

HSBC Premier is the bank’s flagship global personal banking proposition within its retail banking offering, with 24/7 banking service, a dedicated relationship manager, worldwide ATM network and premier debit/credit cards.