Source: Radio New Zealand
RNZ / DOM THOMAS
ASB has joined the other main banks in pushing up interest rates.
It increased its fixed home loan rates across 12-month to four-year terms by between six and 16 basis points, and its five-year term by 20 basis points.
Its one-year rate lifts by six basis points from 4.59 percent tot 4.65 percent.
Its two-year rate increases from 5.09 percent to 5.25 percent.
ASB also lifted term deposit rates by between five and 20 basis points across 12-month to 4-year terms.
Executive general manager of personal banking Adam Boyd said global financial markets had been volatile.
“Ongoing geopolitical tensions have driven sustained increases in wholesale interest rates. These rates underpin lending and deposit pricing in New Zealand and reflect broader trends across international markets as economies navigate the current outlook.
“We encourage any homeowners feeling uncertain about their position to get in touch. There is real value in talking through your options and ensuring your lending structure is working for your circumstances.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand