SBS Bank Lowers Fixed Rate For First-Home Buyers
Business news is presented by
SBS Bank has announced a drop in its one-year fixed home loan rate for first-home buyers, reducing it from 4.29 percent per annum to 3.99 percent per annum. This new special rate is the first to fall below four percent since May 2022 and will be available for a limited time.
The rate is part of SBS Bank’s ongoing efforts to support first-time buyers as they step onto the property ladder. The bank's FirstHome Combo package already offers a comprehensive range of benefits designed to help people into their first home, including support with KiwiSaver and insurance contributions through the SBS Group.
“This market-leading rate makes home ownership even more affordable for Kiwis pursuing their dream of owning their very own home,” says SBS Bank Group Chief Executive Mark McLean.
The bank remains committed to helping Kiwis overcome affordability challenges. Last year, SBS supported 1,479 first-home buyers, with each saving an average of $156 a fortnight when compared with larger banks.
“Helping aspiring home owners is how the story of SBS began over 155 years ago, and we remain strongly committed to our purpose of helping Kiwis find a place to call home,” Mr McLean says.
This latest move strengthens SBS Bank’s position as a competitive player in the home loan market and shows its long-standing commitment to helping more New Zealanders own a home.