ASB and Kiwibank have lowered their six\u2011month mortgage rates today, while increasing several other fixed home loan and term deposit rates as rising wholesale interest costs continue to put pressure on banks.<\/p>\n
Kiwibank’s six-month rate now sits at 4.49%, with widespread adjustments across its home\u2011loan card.<\/p>\n
The bank’s two\u2011, three\u2011, four\u2011 and five\u2011year fixed terms all rose by 10 or 20 basis points on both special and standard rates.<\/p>\n
It had lifted term deposit rates for two, three, four and five-year terms. <\/p>\n
ASB also trimmed its six-month rate down to 4.59%, while raising its one\u2011 to three\u2011year fixed home loans by 10 to 20 basis points, and raised term deposit rates across nine\u2011month to five\u2011year terms, including a 35\u2011basis\u2011point increase to its two\u2011year term deposit.<\/p>\n
ASB said longer\u2011term wholesale interest rates had risen by more than 50 basis points since the Reserve Bank\u2019s November 2025 OCR announcement, increasing the cost of providing fixed lending.<\/p>\n
“Today\u2019s changes reflect the reality of our higher wholesale interest rate environment,” said ASB executive general manager for personal banking Adam Boyd.<\/p>\n
“While this upward movement is good news for savers \u2014 with our two\u2011year term deposit now starting from 4.00% \u2014 we know homeowners are watching rates closely.”<\/p>\n
Last week, ANZ cut<\/a> its six\u2011month fixed special home loan rate by 0.20 percentage points to 4.49% \u2014 its lowest level since March 2022 \u2014 while lifting its two, three, four and five-year rates. <\/p>\n BNZ also adjusted its rates last week<\/a>, lowering its six\u2011month home loan rate by 0.20 percentage points to 4.49% while raising its longer\u2011term options.<\/p>\n