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ASB Announces Interest Rate Reductions
ASB Announces Interest Rate Reductions
ASB has today announced it will be dropping its home loan fixed interest rates by up to 0.5 of a percentage point.
The new Housing interest rates will be effective as from tomorrow, 2 March 2011. For a fixed term of 6 months the new rate is 5.85 percent per annum, with the new 12 months Housing fixed rate being 5.95 percent per annum. There will also be reductions to all other home loan fixed rates.
The ASB decision to reduce fixed lending rates reflects changing wholesale funding rates and market forecasts that the Reserve Bank of New Zealand is likely to lower the Official Cash Rate next week. With wholesale call and 90 day rates reflecting little change at present we will continue to monitor our variable home loan interest rate leading up to the OCR announcement next week.
ASB’s Term Deposit rates have also been reduced to reflect the changes in wholesale rates. The new Term Deposit and Term Fund interest rates are also effective as from 2 March.
The full list of interest rate changes is attached. For more information about ASB’s interest rates please visit the ASB website.
ENDS
ASB Bank
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In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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