{"id":265052,"date":"2026-02-03T06:09:10","date_gmt":"2026-02-03T06:09:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/265052\/"},"modified":"2026-02-03T06:09:10","modified_gmt":"2026-02-03T06:09:10","slug":"nzs-largest-bank-cuts-one-rate-while-raising-most-others","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/265052\/","title":{"rendered":"NZ’s largest bank cuts one rate while raising most others"},"content":{"rendered":"

ANZ has dropped its six-month home loan rate to its lowest level since March 2022, while increasing longer-term rates in response to rising wholesale costs.<\/p>\n

The country’s largest bank will reduce its six-month fixed special rate by -0.20% to 4.49% per annum from Wednesday, or 5.09% as the non-special rate.<\/p>\n

Its one-year fixed special rate remains at 4.49%, unchanged and at its lowest level since April 2022, according to ANZ. The regular one-year fixed rate was 5.09%.<\/p>\n

Eighteen-month fixed rates also remained unchanged, <\/p>\n

However, borrowers looking to fix for longer terms will face higher rates, with the three-year rate rising by 0.10%, the two-year and four-year rates increasing by 0.20%, and the five-year rate climbing by 0.30%.<\/p>\n

ANZ managing director for personal banking Grant Knuckey said lower rates over the past two years were continuing to benefit customers<\/a>.<\/p>\n

\"ANZ\"<\/p>\n

ANZ (Source: 1News)<\/p>\n

“Lower home loan rates in this cycle are continuing to flow through to customers. More than 68% of our fixed home loans are now on rates lower than 5%” he said.<\/p>\n

“That\u2019s a big change from the end of 2024, when less than 10% of loans were under 5%.”<\/p>\n

The bank said it considered a range of factors when reviewing interest rates, including the Reserve Bank’s official cash rate, changes in wholesale interest rates, and balancing the “needs of borrowers and savers”.<\/p>\n

Home loan special rates are available to customers with a minimum of 20% equity and an ANZ transaction account with salary direct credited. <\/p>\n

Savers will benefit from some increases to term deposit rates, with the five-year rate rising by 0.30% to 4.50% per annum and the two-year rate increasing by 0.20% to 3.85% per annum.<\/p>\n

BNZ also adjusts rates<\/p>\n

BNZ has also lowered<\/a> its six-month home loan rate while raising its four and five-year offerings, effective from today.<\/p>\n

\"BNZ<\/p>\n

BNZ (file image). (Source: 1News)<\/p>\n

The six-month rate was cut by 0.20% to 4.49%<\/a>, while the four-year rate was lifted 0.26% points to 5.55% and the five-year rate increased 0.40% to 5.69%.<\/p>\n

Last week Westpac increased most of its standard<\/a> and special home loan rates and also cut its six-month offering, saying it was a response to recent changes to costs.<\/p>\n","protected":false},"excerpt":{"rendered":"ANZ has dropped its six-month home loan rate to its lowest level since March 2022, while increasing longer-term…\n","protected":false},"author":2,"featured_media":265053,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[138,111,43,139,69,244],"class_list":{"0":"post-265052","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-zealand","8":"tag-business","9":"tag-new-zealand","10":"tag-news","11":"tag-newzealand","12":"tag-nz","13":"tag-personal-finance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/265052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=265052"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/265052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/265053"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=265052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=265052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=265052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}