Mortgages

Banks get ready for battle

A banking war over two-year fixed home loans is only the beginning of a new level of competition, says a top executive of one bank.

Monday, November 01st 2004

Superbank chief operating officer James Munro says: "I think it is going to get increasingly competitive.

"Probably right across the retail banking landscape what we're going to see through next year is increased competition on every product line, including cards and transaction accounts."

He says his staff are calling the BNZ-led battle for two-year fixed home loan business "bank wars".

BNZ has pledged to beat any two-year home loan rate offered by major rivals on loans taken up by December 17.

ASB today starts Fastsaver, a savings account for electronic customers that will compete with Superbank's Supersaver.

Read More - Opens in a new window

Most Read

Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
TSB Special 4.39
Co-operative Bank - First Home Special 4.39
SBS Bank Special 4.49
Unity Special 4.49
ANZ Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
Co-operative Bank - Owner Occ 4.49
Kainga Ora 4.49
ICBC 4.59
ANZ Special 4.69
Unity Special 4.69
BNZ - Std 4.69
Wairarapa Building Society 4.79
Nelson Building Society 4.87
Westpac Special 4.89
Kiwibank Special 4.89
Co-operative Bank - Owner Occ 4.89
SBS Bank Special 4.89
ICBC 4.99
Kainga Ora 5.15
Westpac Special 5.29
ASB Bank 5.69
TSB Special 5.69
BNZ - Std 5.69
SBS Bank Special 5.69
Co-operative Bank - Owner Occ 5.69
AIA - Go Home Loans 5.69
Kiwibank Special 5.79
Westpac 5.89
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kainga Ora 5.69
Kiwibank 5.75

More Stories

Thursday, February 19th 2026

RBNZ expects slower house price growth in the current recovery

The Reserve Bank thinks house prices will rise at a much slower pace during the current recovery than they have in past cycles.

Wednesday, January 07th 2026

Queenstown not off the radar for first home buyers

First home buyers are not being deterred by Queenstown’s soaring house prices.

Record levels of first home buyers taking out low deposit loans

Tuesday, December 23rd 2025

Record levels of first home buyers taking out low deposit loans

About half of all first home buyer lending has been done at a less than 20% deposit in recent months.

Buyers sitting on the sidelines in best time to buy in a decade

Thursday, December 04th 2025

Buyers sitting on the sidelines in best time to buy in a decade

Stable house prices, low interest rates and plenty of houses to choose from are still not enticing buyers.