BNZ has cut some of its home loan and term deposit interest rates.
The bank dropped its 1-year fixed rate from 5.59% to 5.55%, a 0.04% change.
Its standard 3-year fixed rate dropped from 5.69% to 5.59%, its 4-year fixed rate dropped from 5.79% to 5.69% and its 5-year fixed rate lowered from 5.89% to 5.79%.
Its standard 6-month fixed rate (5.99%), 18-month fixed rate (5.39%), and 2-year fixed rate (5.29%) did not change.
BNZ yesterday also updated some of its term deposit rates for some terms between 150 days and 18 months.
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Earlier this week, Kiwibank cut its six-month fixed special rate by 16 basis points, and its 1-year rate by 24 basis point to 5.55%.
All major banks have lowered some fixed mortgage rates in recent weeks.
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