HSBC Announces Market Leading Fixed Term

24 September, 2012

HSBC Announces Market Leading Fixed Term
Home Loan Rate at 4.85% Per Annum

HSBC Premier is welcoming spring with a new six month fixed home loan interest rate of 4.85% per annum, the lowest rate currently available in the New Zealand home loan market*.

The global bank for New Zealanders, HSBC is also offering up to NZD$1,000 towards legal contributions for new loans in line with the 4.85% six month offer.**

This six month rate announcement is accompanied by other competitive fixed rates through to five years bringing HSBC Premier rates in at the lowest, or lowest equal, in the market. The other HSBC Premier rates include, one year at 5.25% p.a, two year at 5.39% p.a, three year at 5.74 p.a, four year at 6.20% p.a and the five year rate at 6.65% p.a.**

John Barclay, HSBC’s Head of Retail Banking and Wealth Management, says: “Over the last few years HSBC Premier has led the way with market leading interest rates, and with this current spring clean of our rates, we are pleased to continue this trend for September 2012.”

“With national house sale volumes up 16% in August 2012 compared with August 2011, the housing market continues to take a positive trend***. Our current rate provides excellent value and opportunities for those people wishing to make the most of the new season housing market or to re-finance with HSBC Premier.”

“HSBC has the ability to offer these rates while the Reserve Bank of New Zealand continues to keep the Official Cash Rate low. It is therefore a great time for current or new home owners to take advantage of our highly favourable rates or even consider a mix of floating and fixed loan options,” adds Mr Barclay.

Existing HSBC Premier customers and all new customers who qualify under the HSBC eligibility criteria can access these new rates. To be an HSBC Premier customer, individuals need to qualify with either a minimum combined home loan of NZD$500,000 or NZD$100,000 in savings and investments.

New Zealand HSBC Premier customers pay no ATM fees at HSBC ATMs anywhere in the world and also enjoy the convenience of multi-currency accounts enabling the management of ten leading foreign currencies 24 hours a day****. These services are but a few of the benefits available to HSBC Premier customers. To find out more please refer to www.hsbc.co.nz

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Notes to Editors:

*Correct as at Monday 24 September at date of campaign launch.

**HSBC normal lending criteria apply. Interest rate quoted is subject to change without notice and applies to HSBC Premier customers only (HSBC Premier qualification of e.g. combined lending of $500,000 or more or $100,000 of savings and investments with HSBC). Early repayment fees may apply to fixed rate loans. HSBC Premier Terms and Conditions, Retail Banking and Wealth Management Terms and Conditions apply. The provision of legal contributions is strictly for new home loans only and payable upon the provision of legal invoices relating to the loan. Issued by The Hongkong and Shanghai Banking Corporation Limited, incorporated in the Hong Kong SAR with limited liability, acting through its New Zealand branch (“HSBC”).

***Real Estate Institute of New Zealand:https://www.reinz.co.nz/reinz//public/residential-news/archived-residential-reports.cfm?obj_uuid=C775A006-BD77-C29E-E208-988379AC79EB
****Potential risks arise with investing or converting to a currency which is not your base currency and the risk of loss in entering into such transactions can be substantial particularly if exchange rates fluctuate. Past performance of a currency is not necessarily an indication of its future performance.

1. HSBC in New Zealand

HSBC in New Zealand operates through a network of branches and offices, providing personal and commercial financial services, payment and cash management, trade finance, treasury and financial markets, corporate banking, investment advisory and securities custody services. The principal HSBC Group member in New Zealand is The Hongkong and Shanghai Banking Corporation Limited, incorporated in Hong Kong SAR, acting through its New Zealand branch.

2. The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which serves around 89 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The HSBC Group's network covers 7,200 offices in 85 countries and territories in six geographical regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle East and North Africa, North America and Latin America. With assets of US$2,556bn at 31 December 2011, HSBC is one of the world’s largest banking and financial services organisations.
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