Looking out for your Interest

ASB is reducing its fixed home loan interest rates by up to 0.40%. The new rates are effective from tomorrow. They include a 40 point reduction in the 3 year rate to 6.30%; a 35 point cut in the 4 year rate to 6.70%; and 30points off its 18 month, 2 year and 5 year rates. ASB now offers the most competitive 18 month, 3, 4 and 5 year fixed rates among the major banks, however borrowers favour shorter term rates at the moment. In the key one-year term ASB is competitive, but other lenders have better offerings. GoodReturns 01/11/11

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