HSBC one year rate down to 3.79%
HSBC has cut its special one year fixed mortgage rate to 3.79%, as lenders dive in to the low interest rate environment.
Friday, November 23rd 2018, 12:16PM
The banking group does not offer its deals through advisers, however, and the special rate is not open to non-HSBC Premier customers. Borrowers need to qualify for a host of criteria and become HSBC customers before they can access the rate.
The deal underlines the lower-for-longer rate environment, which has seen ANZ, BNZ, Westpac and TSB slash rates to sub 4%. Rates are at their lowest level for years, and the sub 4% interest levels are likely to see customers refinance their existing obligations.
HSBC's offer is subject to strict rules. Loans need to be more than $500,000, and customers need at least $100,000 in savings to access Premier rates.
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