SBS and HSBC latest to cut floating rates
Two more banks have slashed fixed rates following the Reserve Bank's emergency Official Cash Rate on Monday.
Friday, March 20th 2020, 3:45PM
Effective today, SBS has reduced its floating rate to 4.54% from 5.29%.
That puts the Southland bank, led by Shaun Drylie, now has a floating rate on par with TSB's offering.
Meanwhile, HSBC is also dropping its floating rate.
The global bank's rate will fall to 4.49% as of Monday, the eighth cheapest in the market.
This week has seen a wide range of floating rate cuts after the Reserve Bank cut interest rates by 75 basis points.
However, only ANZ and Kiwibank have passed on fixed rate cuts so far.
| « Resimac moves into asset finance | ASB matches 3.05% rate » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
