ASB Makes Further Drops To Interest Rates
ASB's Executive General Manager Personal Banking Adam Boyd says 'We know there are many New Zealanders looking to refix their mortgage or take on the significant title of homeowner this year, and we're pleased to support them with lower rates. Those considering our 12-month fixed home loan will be paying 2.50% less interest than they would have been 18 months ago. On a loan of $500,000, this reduction in interest translates to an extra $12,500 a year which will make a real difference to many households across the country.'
ASB also reduced some term deposit rates by between 5 and 20 basis points.
All rate decreases are effective immediately.
Fixed home lending term Previous rate New rate Rate decrease
6-month 5.45% 5.29% - 16 bps
1-year 4.95% 4.89% - 6 bps
3-year 5.15% 5.09% - 6 bps
4-year 5.59% 5.49% - 10 bps
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In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
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