Search
Hot topics close

TSB bank moves to drop home loan rates ahead of OCR decision

TSB bank moves to drop home loan rates ahead of OCR decision
The move comes ahead of a potential rate cut tomorrow from the Reserve Bank.

TSB Bank has moved early and dropped its fixed one-year home loan rate ahead of the Reserve Bank's monetary policy statement. Photo / Tara Shaskey

Ahead of the Reserve Bank’s decision on the official cash rate tomorrow, TSB Bank has moved in dropping one of its home loan rates.

The bank has cut its one-year fixed home loan rate to 5.35% a year, which it said was a lower advertised rate than all the major banks on this term.

TSB Bank is also cutting its six-month rate to 5.89%, its 18-month rate to 5.49% and its two-year rate to 5.29%

General manager of customer delivery Penny Burgess said she was pleased to offer relief to New Zealanders in what’s been a tough year.

TSB Bank made a similar move in October 2024, when it cut its advertised one-year fixed rate below 6% before the big four banks.

Similar shots
  • More banks will lower fixed rate mortgage rates economists say More banks will lower fixed rate mortgage rates, economists say
  • Banks pushed to pass on OCR savings compete more vigorously Banks pushed to pass on OCR savings, compete more 'vigorously ...
  • New Zealand RBNZ reduces OCR by 50bps UOB Group New Zealand: RBNZ reduces OCR by 50bps – UOB Group
  • NZers didnt need this much pain to reduce OCR NZers didn't need this much pain to reduce OCR
  • Two banks to cut interest rates ahead of Reserve Banks February Two banks to cut interest rates ahead of Reserve Bank's February ...
  • BNZ Cuts Key 6month Rate Ahead Of OCR Announcement BNZ Cuts Key 6month Rate Ahead Of OCR Announcement
  • Why Kiwis might pass on mortgage rate of 499 as OCR cut looms Why Kiwis might pass on mortgage rate of 4.99% as OCR cut looms
  • RBNZ Survey Offers Reassurance Ahead of OCR Decision & FMT ...
  • Bank cuts shortterm home loan rates ahead of OCR decision Bank cuts short-term home loan rates ahead of OCR decision
  • FMT Expands in Auckland & RBNZ Survey Offers Reassurance ...
  • OCR cut We are on the right path Luxon OCR cut: 'We are on the right path' Luxon
  • OCR площадка в Парке Краснодар рекомендации shorts краснодар ocr
    OCR площадка в Парке Краснодар #рекомендации #shorts #краснодар #ocr
  • Banks move in wake of OCR cut Banks move in wake of OCR cut
  • OCR decision Reserve Bank swings the axe Luxon Willis react OCR decision: Reserve Bank swings the axe; Luxon, Willis react
  • More interest rate relief Reserve Bank cuts OCR to 425 More interest rate relief: Reserve Bank cuts OCR to 4.25%
  • OCR decision Reserve Bank swings the axe how far will rates fall OCR decision: Reserve Bank swings the axe how far will rates fall?
  • Reserve Bank gives in to pressure with massive OCR cut Reserve Bank gives in to pressure with massive OCR cut
  • Relief for homeowners Banks cut mortgage rates in response to Relief for homeowners: Banks cut mortgage rates in response to ...
  • Reserve Bank cuts Official Cash Rate to 475 Reserve Bank cuts Official Cash Rate to 4.75%
  • Official cash rate decision live updates Reserve Bank cuts rates by Official cash rate decision live updates: Reserve Bank cuts rates by ...
News Archive
  • Eamonn Holmes
    Eamonn Holmes
    Eamonn Holmes leaves GB News panel gasping as he shares rare ...
    20 Mar 2024
    1
  • AI death calculator
    AI death calculator
    'AI death calculator' creators issue urgent warning about ...
    30 Apr 2024
    6
  • Selena Gomez
    Selena Gomez
    Selena Gomez breaks down in tears over Donald Trump's ...
    25 days ago
    17
  • Matthew McConaughey
    Matthew McConaughey
    Matthew McConaughey full speech: Read text of his words at White House
    8 Jun 2022
    3