Kiwibank increases loan and deposit rates

Kiwibank increases loan and deposit rates

Kiwibank has today increased one and two-year home loan rates and two, three and four year term deposit rates. The changes have been made as a result of increased costs of wholesale funding.

The one-year fixed home loan rate increases 0.20% p.a. to 5.45% p.a.; the two-year rate increases 0.30% to 5.95% (this rate is for customers with 20% or more equity in the property, otherwise the rate is 6.29%).

Term deposit rates increases are: two year: up 0.25% p.a.; three –year 0.30% and four year 0.25%.

The rates on offer over the terms range between 4.65% to 5.25 %.
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