ASB moves all fixed rates higher
Monday, January 9th 2017, 9:25AM
In a move not often seen there have been a number of interest rate changes during the Christmas holidays. The most interesting is big increases to ASB fixed rate loans across the card. It's standard five-year fixed rate is now above the 6% mark and all its rates are now the highest in the market. It will be interesting to see when its competitors follow suit.
Here is how ASB compares in the key two-year fixed rate market. (See table sorted highest to lowest)
The changes also apply to Bank Direct and Sovereign. NZ Home Loans has increased its standard one-year rate one basis point to 4.70% and removed its four and five year special rates.
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On 9 January 2017 at 12:42 pm DT said:
Yes it will be 'interesting' to see if competitors 'follow suit'!! Are you really in any doubt that all the banks will follow suit? When did any bank miss an opportunity to advantage of the gullible and apathetic public to increase it's already obscene profits?