HSBC Fixed Rates Prove Popular Ahead of OCR

HSBC Fixed Rates Prove Popular Ahead of OCR Increases

HSBC’S Home Loan Campaign is proving popular as it continues to include the lowest fixed term home loan rates currently available in the market# at a time when people are seeking certainty ahead of forecast OCR increases over the next six months.

Launched on 7 April this year, the home loan rates on offer include:

A six-month fixed term rate of 4.99%, the lowest of all currently published rates in the market including variable rates – a saving of $2,345 over a 6 month period, compared with a six month fixed term interest rate across the other main banks.

A 12-month rate of 5.49%, the only one year fixed term rate that falls below 5.5% and that matches or betters most variable rates on the market – a saving of $4,300 per annum, compared with a 12 month fixed term interest rate across the other main banks.

A 24-month rate of 6.49%, the only two year fixed term rate that falls below 6.5% – a saving of $7,700 a year over a two year period, compared with a 24 month fixed term interest rate across the other main banks*.

“We are delighted with the response to our home loan offer to date and urge other prospective customers to act fast if they wish to take advantage of our current home loan rates before the offer ends and the wider competitive landscape shifts in response to OCR changes,” said John Barclay, HSBC Head of Personal Financial Services. HSBC FIXED RATES PROVE POPULAR AHEAD OF OCR INCREASES
“Our highly competitive home loan offer is designed to attract prospective customers who – as well as benefiting from the most competitive rates in the market – would benefit from the personalised service we provide through HSBC Premier that enables them to relax while their banking needs are well managed,” said Mr. Barclay.
To be eligible to take up the HSBC home loan offer, customers need to qualify for HSBC Premier, with minimum combined home loans of $500,000, or $100,000 in savings and investments.
Key features of HSBC Premier include a dedicated relationship manager to assist customers with their banking needs, access to 300 HSBC Premier Centres worldwide, and uniformity of service internationally.

ENDS

© Scoop Media