{"id":382299,"date":"2026-04-16T10:21:09","date_gmt":"2026-04-16T10:21:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/382299\/"},"modified":"2026-04-16T10:21:09","modified_gmt":"2026-04-16T10:21:09","slug":"nzs-biggest-bank-hikes-interest-rates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/382299\/","title":{"rendered":"NZ’s biggest bank hikes interest rates"},"content":{"rendered":"

ANZ, the country’s largest bank, is increasing some of its fixed home loan and term investment rates.<\/p>\n

By Susan Edmunds of RNZ<\/a><\/p>\n

It is raising its home loan rates on terms between one year and five years by 10 basis points or 20 basis points.<\/p>\n

The two-year special rate lifts from 5.09% to 5.29% and the one-year rate from 4.59% to 4.69%.<\/p>\n

Term deposits of between 18 months and five years will lift by either 20 or 10 basis points.<\/p>\n

It follows an update to the bank’s official cash rate forecast this week.<\/p>\n

Chief economist Sharon Zollner said she now expected<\/a> the OCR could rise three times this year, starting as soon as July.<\/p>\n

ANZ managing director for personal banking Grant Knuckey said the changes reflected moves in wholesale interest rates.<\/p>\n

After a fall in late March, the two-year swap rate has risen from about 2.85% at the start of the month to more than 3%.<\/p>\n

Markets are pricing in the likelihood that interest rates will have to rise to counteract inflation due to fuel price rises driven by the Middle East conflict.<\/p>\n

“Lower interest rates have flowed through to customers with around 82% of our home loans on a rate below 5%,” Knuckey said.<\/p>\n

More than 44% of ANZ home loan customers were ahead on their repayments by six months or more.<\/p>\n

Knuckey urged anyone with concerns to contact their bank sooner rather than later.<\/p>\n

“People shouldn’t be nervous about talking to their bank, we’re here to support customers with the various options available to them.<\/p>\n

“There are steps you can take to manage your home loan and things you can do to help relieve some financial pressure,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"ANZ, the country’s largest bank, is increasing some of its fixed home loan and term investment rates. By…\n","protected":false},"author":2,"featured_media":382300,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69,244],"class_list":{"0":"post-382299","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz","13":"tag-personal-finance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/382299","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=382299"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/382299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/382300"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=382299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=382299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=382299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}