How low can they go? HSBC offers lowest home loan rate in 50 years

HSBC bank has launched a record low home rate of 3.87 per cent – but those who take it up must borrow at least $500k, or have investments worth over $100k with it.

The low rate is the latest offer from the bank which last year ran a special rate of 3.95 per cent – the lowest residential mortgage rate in New Zealand for over 50 years at the time.

Chris Russell, CEO of HSBC in New Zealand, said it was launching the rate to celebrate the bank being in operation in New Zealand for 30 years.

HSBC has launched a record low home rate of 3.87 per cent. Photo / 123RF

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