As financial pressure mounts amid the Covid-19 pandemic, TSB bank is offering a special one-year home loan rate rate of less than 2.5 per cent.
Today, the bank launched the rate if 2.49 per cent for one year, as well as a two-year special of 2.65 per cent.
The new rates come in today.
General Manager Marketing and Customer Experience Justine St John said in a statement this morning the rates were the lowest ever offered by TSB.
"TSB is focused on supporting New Zealanders with consistent low lending rates at a time when Covid-19 continues to create economic uncertainty," she said.
"It's more important than ever that people are provided with a wide variety of competitive lending rates to support their financial needs.
"By offering market leading home loan rates, as well as agreeing to match any advertised fixed rate offered by an Aussie bank, we're taking some of the stress away for Kiwis when it comes to choosing a loan best suited to them."
Ms St John said TSB wanted to give New Zealanders another reason to bank local and therefore keep money revolving through the country's local economy during the pandemic.
The rates will be offered until further notice and are available for both new and existing customers with 20 per cent equity.
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