Customer-owned bank reduces rates

by NZ Adviser28 Sep 2015
Challenger lender SBS Bank has made reductions across most of its fixed rates with special lending offers bringing its six month rate to 4.99%, one year rate to 4.49% and their two year rate to 4.55%. 

These special lending offer rates are only available for residential or residential investing lending. 

The rates are not applicable with Welcome Home Loans, SBS Advance (Reverse Equity Mortgage) loans, commercial or agribusiness loans.

SBS Bank also dropped the rate by 20 basis points on one of their fixed equity release products with the three year 'Advance' rate now 6.39%.

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