Hot on the heels of Kiwibank slashing its six-month fixed home loan rate last week, HSBC has cut its six-month rate, with strings attached, even though it was already lower than Kiwibank's new rate.
HSBC has cut its rate from 5.74% to as low as 4.99% if the customer also takes out a home and contents insurance policy with the bank.
If they don't take out an insurance policy, they still get a cut to 5.49%. HSBC's rates are only available to those with combined mortgages of $500,000 or at least $100,000 invested with it, known as "premier" customers.
BNZ has cut 10 basis points off all its fixed rates for its GlobalPlus product which now match its Standard, FlyBuys option.
