Non-major bank cuts rates

by NZ Adviser18 May 2016
SBS Bank has announced changes to its special rates.

Effective today, its 18 month special rate and 2 year special sits at 4.15% p.a., for residential and residential investing lending with a minimum of 20% equity or 30% equity for Auckland residential Investing.

Its standard rate for the same terms is 4.89% p.a.

The Co-Operative Bank has also changed its 18-month rate, bringing it to 4.19%.

These changes follow from Monday's rate drops by BNZ and Westpac. BNZ's now has a two year special rate of 4.19% and also a special rate for its three year fixed at 4.49%.

Westpac’s two year rate sits at 4.19% and Kiwibank last week announced a 3.99% two year rate making it a market-leading low.

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