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.

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Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
Westpac Special 4.49
Wairarapa Building Society 4.59
ICBC 4.59
BNZ - Std 4.65
Unity Special 4.65
SBS Bank Special 4.65
AIA - Go Home Loans 4.65
Nelson Building Society 4.69
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.39
ANZ 5.39
AIA - Go Home Loans 5.39
TSB Special 5.39
BNZ - Std 5.39
Kainga Ora 5.49
SBS Bank 5.59
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
AIA - Back My Build 4.44
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
ANZ 5.89
TSB Special 5.94
ASB Bank 5.99
Pepper Money Prime 5.99

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