{"id":587925,"date":"2026-09-02T12:26:10","date_gmt":"2026-09-02T12:26:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/587925\/"},"modified":"2026-09-02T12:26:10","modified_gmt":"2026-09-02T12:26:10","slug":"first-major-bank-raises-home-loan-interest-rates-after-ocr-hike","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/587925\/","title":{"rendered":"First major bank raises home loan interest rates after OCR hike"},"content":{"rendered":"

New Zealand’s largest bank is the first in the country to announce changes to its interest rates following today’s official cash rate hike. <\/p>\n

The Reserve Bank lifted the OCR by 25 basis points to 2.75%<\/a> this afternoon, its second consecutive increase after raising it to 2.50% in July.<\/p>\n

This afternoon, ANZ said its floating home loan rate would rise from 6.04% to 6.29%, while its flexible home loan rate would increase from 6.15% to 6.40%.<\/p>\n

ANZ’s business flexible facility rate would also rise by 0.25% to 6.29%.<\/p>\n

The changes would take effect for existing customers from September 23, while the new floating home loan rate would apply to new loans from September 9.<\/p>\n

ANZ also announced increases to several savings rates.<\/p>\n

Its online account, PIE fund call option and business premium call account rates would rise by 0.05% to 0.50% from September 9.<\/p>\n

The premium rate on its serious saver account would increase by 0.25% to 2%, taking the total available rate to 2.05% from October 1. Its standard serious saver rate would be unchanged. <\/p>\n

“Interest rates will continue to be reviewed in response to international and local market conditions,” an ANZ spokesperson said. <\/p>\n

“When reviewing interest rates, we consider a range of factors, including the impact on customers, the underlying cost of funds \u2013 including wholesale rate movements \u2013 and competitor activity.”<\/p>\n","protected":false},"excerpt":{"rendered":"New Zealand’s largest bank is the first in the country to announce changes to its interest rates following…\n","protected":false},"author":2,"featured_media":587926,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,219,111,139,69],"class_list":["post-587925","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/587925","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=587925"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/587925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/587926"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=587925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=587925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=587925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}