4.49%: BNZ announces cut to 1-year fixed home loan rate

BNZ has announced a significant cut to its standard 1-year fixed home loan rate, now at 4.49% p.a. The bank is competing for customers seeking a balance between a competitive rate and flexibility.

This reduction could save a customer with a $500,000 mortgage over $2400 in the first year. The new rate is available immediately for new customers and existing customers who are refixing or currently on a variable rate, offering relief for household budgets.