Trustbank reduces rate
Trustbank Canterbury has announced a 1.25 per cent reduction in its base lending rate, from 21 per cent to 19.75 per cent. The reduction applies to all new housing and term loans from Monday. For existing mortgages on monthly repayments (which are the majority), the reduction will become effective after the December payment. Mortgages on three-monthly repayments will have the reduction effective from January 1, reflected in the end of March repayment. The reduction applies to more than 20,000 existing borrowers.
The bank’s base overdraft rate has been reduced from 20.5 per cent, to 19.5 per cent. Personal loans will be reduced 1 per cent from Monday.
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Press, 21 November 1987, Page 8
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110Trustbank reduces rate Press, 21 November 1987, Page 8
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