HSBC sets a new low benchmark

HSBC New Zealand has cut its fixed home loan rates across the board to offer a flat rate of 3.35% p.a. for tenors between one and five years.

This is the lowest mortgage rate that HSBC has ever offered in the New Zealand market. It is significantly lower than its 3.69% p.a. for a two-year fixed mortgage in March this year, which at the time was the lowest fixed home loan interest rate offered in the New Zealand market for over half a century.

No other bank in the market currently offers a fixed term mortgage rate below *3.55% p.a.

“We are pleased to offer New Zealanders the opportunity of a single, market-leading interest rate of 3.35% p.a. for one through five-year fixed home loans,” said Martine Milicich, Head of Retail Banking and Wealth Management at HSBC New Zealand.

“What I like about this offer is that our customers can choose the term(s) that best suits their individual needs,” she added.

This special home loan rate is being offered for a limited time to new HSBC Premier customers, and existing HSBC Premier customers who borrow an additional NZD100,000 or more. HSBC Premier qualification, minimum deposit and equity criteria apply.

HSBC Premier is the bank’s flagship global personal banking proposition. Every HSBC Premier customer in New Zealand has a dedicated local relationship manager. There are a range of additional benefits, including the ability via ‘Global Transfers’ to move money internationally between your own HSBC accounts in real time and free of charge.