ASB is reducing some of its fixed home loan interest rates by up to 0.20%.

The new rates are effective from tomorrow January 27).

They include a 0.10% reduction in the 12 month rate to 5.70% per annum; a 0.15% reduction in the 2 year rate to 5.85% per annum; and a 0.20% percent reduction to 3 year, 4 year and 5 year rates to 6.10%, 6.50% and 6.90% per annum respectively.

“Given the interest rate outlook following the RBNZ rate announcement, we think it is important that customers have competitive options to consider between floating and fixed rates,” says ASB general manager lending, Mike Davy.