National Bank cuts interest
PA . Wellington The!National Bank will cut lending rates in four key areas — home mortgages. base rate. National Bank Visa arid personal loans. [ Home mortgage rates had been cut 0.75 per cent to 17.75 per cent, effective immediately, said the bank's] chief executive Mr Jim Macaulay, yesterday. The base rate will drop by the same amount to 17.75 per cent on April 11.
Sectired personal loans have been cut to 15.5 per cent and unsecured personal loans have been cut
to 19.5 per, cent. The bank’s Visa card rate will drop 1 per cent at the start of April to 25 per cent. ! During ithe last 12 months the: National Bank had cut its: base rate 5.25 per cent. IMr Macaulay said. •
Two days ago BNZ announced its base rate would be [17.75 per cent from April! 11. while Westpac’s base! rate is 18.50 effective from February S. ■ ;
ANZ Banking Group's base rate is 18.25 per cent effective from February
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Press, 18 March 1988, Page 6
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163National Bank cuts interest Press, 18 March 1988, Page 6
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