Heartland Bank has released the lowest home loan rate in New Zealand history. The bank today announced a one-year fixed loan rate at 1.99 per cent. In addition to this record-low rate, Heartland is also offering a fixed two-year rate of 2.35 percent and a three-year rate of 2.45 percent. Heartland Bank chief executive Jeff Greenslade attributed the bank's digital strategy. In October, SBS bank upped the competitive stakes with a rate of 2.49 percent for 18 months, two years or three years.

Source: Otago Daily Times October 12, 2020 01:07 UTC