Article #976497898
Friday, February 18th 2011, 7:08AM
Kiwibank has reduced its six-month rate by 40 basis points to 5.95%. This special rate is only being offered for a limited time, following on from its successful one-year rate cut back in January that latest three weeks.
Hot on the heels of Kiwibank slashing its six-month fixed home loan rate, HSBC has cut its six-month rate, with strings attached, even though it was already lower than Kiwibank's new rate.
HSBC has cut its rate from 5.74% to as low as 4.99% if the customer also takes out a home and contents insurance policy with the bank.
If they don't take out an insurance policy, they still get a cut to 5.49%. HSBC's rates are only available to those with combined mortgages of $500,000 or at least $100,000 invested with it, known as "premier" customers.
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