As is often the case it is an offer with strings attached. The main one is that a borrower has to have at least 30% equity in their property otherwise the rate is 6.79%.
As you can see here it is a clear market leader in the term, however not that many lenders offer four year rates.
The lowest four-year rate offered by another bank is the 6.70% on offer from both ASB and the Co-operative Bank, formerly PSIS.However, Public Trust is slightly more competitive.
Kiwibank spokesman Bruce Thompson said the bank traditionally likes to kick-start the year with a market-leading rate.
"Over the past couple of years, the competition has been for shorter term lending, but Kiwibank is now offering home owners the opportunity to lock-in a very low rate for a longer period," Thompson said.
"There is considerable uncertainty about interest rates and about the world economies, so this four-year offer gives customers certainty."
The offer is available for an unspecified limited time.
