Kiwibank stays aloof from home loans price war

While Bank of New Zealand is offering a two-year fixed rate loan at 6.90%, ANZ Bank and ASB Bank are offering two-year fixed rate loans at 6.95% and Westpac is offering a "special" of 6.99% fixed for 18 months, Kiwibank’s two-year fixed rate remains significantly higher at 7.35%.

That’s despite the fact that Kiwibank still guarantees that its home loan customers will be better off over a six-year period than they would with the major banks.

Kiwibank spokesman Bruce Thompson says while that guarantee remains in force but his bank doesn’t try to match short-term offers on individual rates.

It remains confident its loans will still be cheaper over time.

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