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4.49%: BNZ announces cut to 1-year fixed home loan rate
Bank of New Zealand (BNZ) has cut its standard advertised 1-year fixed home loan rate, ahead of OCR decision.
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BNZ has cut its 1-year fixed home loan rate to 4.49% for new and eligible existing customers. The bank is competing for new business amid strong demand for shorter fixed terms that balance competitive rates with flexibility.
This reduction offers potential savings of over $2,400 annually on a $500,000 mortgage. The new rate is available immediately to new buyers, those moving from other banks, and existing customers refixing or on variable rates, providing relief for household budgets.
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