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Kiwibank cuts two-year rate, raises others

Friday 16th of July 2021

The two year rate, formerly 2.55%, will be cut to 2.49%, 40 basis points cheaper than the cheapest big four rate, offered by Westpac at 2.89%.

The new offer comes into effect on Monday.

Kiwibank chief executive Steve Jurkovich said the state-backed bank was providing "certainty to its customers".

Despite cutting its two year rate, Kiwibank has increased its variable rate, from 3.4% to 3.75%.

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