SBS Bank launches game-changing new home loan rate

10 March 2015

MEDIA RELEASE

SBS Bank launches game-changing new home loan rate

SBS Bank announces a market-leading fixed five-year home loan interest rate of 4.99% p.a. available for members (existing customers) and their family and friends. The offer is open from 10am Tuesday 10 March 2015 for a strictly limited time.

SBS Bank Chief Executive Wayne Evans said the offer demonstrates another tangible benefit for SBS Bank’s members, their family and friends.

“Buying a house is a very significant milestone in people’s lives, so we’re proud to be able to offer our members and their family and friends the opportunity to benefit from a special rate that is market-leading. We’re encouraging our members to spread the word to their family and friends nationwide.”

Key terms of the offer, available for a limited time, are:

• 4.99% p.a. fixed five-year home loan interest rate for new lending over $100,000.

• Members who introduce eligible family and friends will be eligible for the special offer without having to present new lending of over $100,000.

• Available for residential lending only.

“The new special rate offered today for a limited time demonstrates SBS Bank’s commitment to continued lending growth in the residential sector, underpinned by our expanding reach across New Zealand. Through our branch network and our team of dedicated mobile mortgage managers, in major markets such as Auckland, we are well placed to serve our members nationally,” said Mr Evans.

“For a small bank we have consistently provided some of the best residential mortgage offers in the market. A great example of this is our Welcome Home Loan offer, a Housing New Zealand-backed scheme, aimed at getting people into owning their first home.”

SBS Bank’s Welcome Home Loan offer is one of the most competitive in the market, with a significant cash incentive as a key feature.

Established in 1869, SBS Bank is believed to be the first building society in the world to have achieved bank registration while retaining its mutual structure. Mutual ownership means SBS Bank is uniquely positioned to provide benefits to its members. SBS Bank has 17 branches across the North and South Islands, together with mobile bankers in Auckland and Christchurch.

People who want to know more about the offer announced today should contact SBS Bank directly on0800 SBS BANK.

ENDS

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