Bank of the South Pacific has joined the home loan war started by Bred Bank by announcing a 3.95 per cent rate for the first six months, the lowest yet.
BSP has reduced its fixed home loan interest rate to 3.95 per cent for six months, 4.5 per cent for one year, 5.45 per cent for two years and a variable interest rate of 6.25 per cent thereafter.
Bred Bank had announced an introductory rate of 3.99 per cent.
ANZ last week dropped its home loan rate to 4.25 per cent for its one-year fixed owner-occupied home loan and residential investment property loan.
By Indrani Krishna