ANZ's new two-year special of 6.09% is well below the carded rates of other big banks as illustrated here compared to Westpac. However, BNZ does offer the same rate with its Classic product.
SBS continues its position as market leader, however doung the week it increased the key two-year rate 21 basis points.
The key area of competition remains focussed on the three-year fixed rate term.
Key changes during the week
- ANZ launches two-year special.
- SBS raises six month rate 10 basis points and its two year rate 21 points from 5.99% to 6.20%
- Westpac copies ASB and introduces a one-year rate of 5.95% ()
- ANZ and ASB have increased their "cash contributions" from $2000 to $3000.
