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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 standard 1-year fixed home loan rate to 4.49%, effective immediately. The bank is competing for new customers and aiming to provide relief for households with tight budgets.
The new rate is available for new home loan customers and eligible existing customers who are refixing or on a variable rate. For a $500,000 mortgage, this could save over $2,400 in the first year, offering a balance of competitive pricing and flexibility.
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