House Prices

Banks woo students in hope of big dividends later

A poor student might not appear to be the ideal candidate for a bank's largesse, especially considering the size of some student loans.

Monday, November 15th 2004

But the opposite is, in fact, true.

Banks are competing to attract young customers because the poor student of today generally evolves into a lucrative client of the future, who will seek a loan to buy a car, spend up large on credit, get a mortgage, invest and insure.

Banks are offering enticing incentives to students to get their custom and, hopefully, keep them on the books for the days ahead when their account has a money-spinning quality.

One way they do this is by offering attractive student packages with few strings and lots of bells and whistles, many of them free.

The main banks, ANZ, National, ASB, BNZ and Westpac, have similar student packages. That's not surprising in this competitive industry.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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