HSBC has today announced it is keeping its six month fixed home loan rate at 4.99% and dropping its four year fixed interest rate to 7.30% which sees the Bank offering the lowest home loan rates in the market for six months, one and three years.

The four year fixed rate has been reduced by 15 basis points from 7.45% to 7.30%, with the one year fixed increasing 25 basis points to 5.99%, but remaining the lowest one year fixed home loan rate in the market. The floating home loan rate has increased from 6.30% to 6.49%.

John Barclay, Head of Personal Financial Services, at HSBC says: "We're delighted to continue to give customers the ability to lock in market leading or highly competitive rates for the next six months to three years, providing certainty around their mortgage payments in what remains a very volatile market."

To be eligible to take up the HSBC home loan offer, customers need to qualify for HSBC Premier, with minimum combined home loans of $500,000, or $100,000 in savings and investments.

Key benefits of HSBC Premier include a dedicated relationship manager to assist customers with their banking needs, 24/7 banking, access to 300 HSBC Premier Centres worldwide, no ATM fees anywhere in NZ or the world, uniformity of service internationally and privileges such as an additional flight luggage allowance.