Kiwibank's lowest ever rate

Kiwibank has launched a six-month fixed rate mortgage special of 5.40%, the lowest home loan rate it has offered since it opened more than nine years ago.

Kiwibank chief executive Paul Brock said the special was expected to be available until the end of April.

"We have launched a couple of short-term specials this year and they have proved very popular attracting new business and also giving customers the chance to lock in a great rate and have some certainty in uncertain times," Brock said.

The bank's six month rate was previously 5.75%. Kiwibank has a floating rate set at 5.65%.