Still Unbeatable
The BNZ 'Unbeatable' campaign has taken a new twist with Kiwibank undercutting BNZ's 2-year fixed rate by 0.1%. It's new advertising specificly mentions that this rate is to beat the 'Unbeatable' rate - showing how experienced competition is squeezing Kiwibank in the mortgage market.
But before you rush out and change your mortgage to Kiwibank, consider this - Kiwibank is a low-cost provider who use non-bankers on its frontline. It doesn't offer many services that you would consider to be standard for most banks. So, if all you want is a mortgage and a chequebook, Kiwibank may be alright for you.
But if you want expertise, experience and every service you think a bank should provide (plus plenty more you didn't know existed) then don't rush in just yet.
Disclaimer: Yes, I am an employee of BNZ. Don't use my advise as your sole source of information about your financial situation - I recommend you talk to bankers about pros and cons of any offer before signing on the dotted line. If unsure, your lawyer will be able to help.
But before you rush out and change your mortgage to Kiwibank, consider this - Kiwibank is a low-cost provider who use non-bankers on its frontline. It doesn't offer many services that you would consider to be standard for most banks. So, if all you want is a mortgage and a chequebook, Kiwibank may be alright for you.
But if you want expertise, experience and every service you think a bank should provide (plus plenty more you didn't know existed) then don't rush in just yet.
Disclaimer: Yes, I am an employee of BNZ. Don't use my advise as your sole source of information about your financial situation - I recommend you talk to bankers about pros and cons of any offer before signing on the dotted line. If unsure, your lawyer will be able to help.
posted by Michael at
7:41 PM
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