TSB is dropping its one-year fixed home loan rate to 4.39% per annum. Photo / Getty Images
Burgess said by providing this one-year rate, TSB is backing its commitment to helping people make the numbers work for them.
The New Zealand-owned bank said supporting customers through changing economic conditions is its purpose.
“We know every dollar counts,” Burgess said.
“Offering this rate is one of the ways we can help people feel more confident about their financial decisions as they plan their year ahead.”
TSB encouraged homeowners to review their lending and consider whether switching banks could make a difference.
This comes a day after ASB announced it was hiking some of its longer-term home loan rates while cutting its shortest offering.
ASB said its six-month fixed home loan rate would drop 6 basis points (bps) to 4.59%.
Its one-year fixed interest rate will increase 10bps from 4.49% to 4.59%.
ASB is also increasing its two-year fixed mortgage rate by 20bps to 4.95%.
Meanwhile, its three-year rate will move from 5.09% to 5.19%.
The new Reserve Bank Governor, Anna Breman, will make her first OCR decision – and the first for the year – next week.
The OCR was cut by 25bps to 2.25% in November.
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