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New Zealand : HSBC NEW ZEALAND launches lowest three-year fixed residential mortgage rate of 5.85% a year

July 19, 2014

HSBC New Zealand has revealed in an announcement that it has made a 0.4% cut in its HSBC Premier three-year fixed housing loan rate to 5.85% per year.

With this move, New Zealanders global bank has become the lone provider of such low-cost rate as against its local peers offering of on an average 6.45% per year for three-year fixed residential credit.

The newly announced rate is again complemented by cuts to the bank s one and two-year fixed-term mortgage rates to the same level of 5.85% per year.

HSBC New Zealand has declared these special home loan rates for a very limited period for its new HSBC Premier clients. Moreover, the bank s existing HSBC Premier customers will be able to avail this offer, provided that they borrow another amount of at least NZD100,000.

These special rates will be offered to those HSBC customers, who have a minimum of 20% deposit or equity with the bank.

The Head of Retail Banking and Wealth Management, HSBC New Zealand, Glen Tonks stated, "We are excited to bring this market-leading winter home loan offer to our customers to mark the global relaunch of the HSBC Premier offering locally."

He added, "These options mean that our Premier customers can get the fixed rate tenors that work best for them at very competitive rates, and recent discussions indicate that many customers are now considering longer term fixed rates."

He further said, "The relaunch of HSBC Premier is all about placing the customer at the centre of everything we do. Our team of experienced relationship managers provides each Premier customer with personalised support to help them manage their own personal economy."

In New Zealand, every customer of HSBC Premier, the bank s flagship global personal banking scheme, enjoys services of a dedicated local relationship manager in addition to several other benefits such as zero-fees at countrywide ATM network, plus foreign currency swap at any HSBC branch across the world without any commission and money transfer services globally amid customer s own HSBC accounts for free within just half-minute.

At lease a joint home loan of NZD500,000, or NZD100,000 in savings and investments with HSBC will make one eligible for HSBC Premier membership.

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Source: TendersInfo (India)

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