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 3.95
SBS FirstHome Combo 3.99
TSB Special 4.39
SBS Bank Special 4.49
ICBC 4.49
Co-operative Bank - First Home Special 4.49
Unity Special 4.49
ASB Bank 4.59
ANZ Special 4.59
Nelson Building Society 4.59
Westpac Special 4.59
Nelson Building Society 4.87
BNZ - Std 4.89
Kiwibank Special 4.89
Unity Special 4.89
TSB Special 4.89
SBS Bank Special 4.89
ICBC 4.89
Kainga Ora 4.95
China Construction Bank 4.95
First Credit Union Special 4.95
ASB Bank 5.09
Westpac Special 5.59
ICBC 5.65
Kainga Ora 5.69
TSB Special 5.69
SBS Bank Special 5.69
AIA - Go Home Loans 5.69
ASB Bank 5.69
BNZ - Std 5.79
Co-operative Bank - Owner Occ 5.89
Kiwibank Special 5.89
China Construction Bank 5.99
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
Kiwibank 5.75
Unity Standard 5.79

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