ASB has responded to the RBNZ’s decision to reduce the Official Cash Rate, saying it will pass on the full cut to its customers.
"We've made a deliberate choice to pass on the full Official Cash Rate cut to our customers so we can support them during this period of uncertainty. We want our customers to know ASB is here for them, and will be doing our best to help their financial wellbeing over this time," says Craig Sims, ASB executive general manager, Retail.
ASB's variable home loan rate is reduced by 0.75% from 5.20% p.a. to 4.45% p.a.
ASB's Orbit home loan rate is reduced by 0.75% from 5.30% p.a. to 4.55% p.a.
These changes are effective Wednesday, 18 March 2020 for new customers and Wednesday, 25 March 2020 for existing customers. Lending criteria and conditions apply.
"We have been supporting Kiwis for more than 170 years, during many testing circumstances, and we will continue to do the right thing for our people, our customers and our communities," says Sims.
For more information on our rate changes go to https://www.asb.co.nz/legal/notices.html
|Term||Interest rate p.a.||Change p.a.|
|Variable home loan rate||4.45 %||-0.75%|
|Orbit home loan rate||4.55%||-0.75%|