Kiwibank this morning launched a two-year fixed rate home loan rate of 3.99%.
The bank says this is the lowest fixed rate the bank has promoted since it was launched in 2002 and significantly under cuts carded rates by competitor banks.
The special rate will only be available for two weeks (ending May 27, 2016) and a minimum 20% deposit is required.
HSBC rate for 18-months for some premier customers sits even lower at 3.95%.
According to Canstar, the average two-year fixed rate in the current market is 4.57%.