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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% to compete for new customers and meet demand for shorter, flexible terms.
This reduction offers significant relief for household budgets. For a $500,000 mortgage, this could result in savings of over $2400 in the first year.
The new rate is available immediately for new home loans and for existing BNZ customers who are refixing or are currently on a variable rate.
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