Asb Bank Limited

ASB Bank Loan Rates: All You Need to Know

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ASB Bank is one of the largest banks in New Zealand, and it offers a wide range of loan products to suit a variety of needs.

Whether you’re looking to buy a home, start a business, or consolidate your debt, ASB Bank may have a loan for you.

In this article, we’ll take a look at ASB Bank’s current loan rates and fees, as well as some of the factors that can affect your interest rate.

What are ASB Bank’s current loan rates?

ASB Bank’s current loan rates vary depending on the type of loan you’re applying for, the term of the loan, and your individual circumstances.

However, here is a summary of some of their most popular loan rates:

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  • Home loans: ASB Bank’s current home loan rates start at 7.45% p.a. for a 6-month fixed rate loan.
  • Personal loans: ASB Bank’s current personal loan rates start at 13.90% p.a. for a secured loan.
  • Business loans: ASB Bank’s current business loan rates start at 9.95% p.a. for a secured loan.

What are ASB Bank’s loan fees?

ASB Bank charges a variety of fees for its loans, including:

  • Application fee: ASB Bank charges an application fee of $250 for most loan types.
  • Processing fee: ASB Bank charges a processing fee of up to $400 for most loan types.
  • Valuation fee: If you’re applying for a home loan, ASB Bank will require you to get a valuation of the property you’re buying. This will cost you around $500.
  • Legal fees: If you’re applying for a home loan, you’ll also need to pay legal fees to have your loan documents drawn up and registered. This will cost you around $1,000.

What factors can affect my interest rate?

A number of factors can affect your interest rate, including:

  • Your credit score: The higher your credit score, the lower your interest rate will likely be.
  • The amount of money you’re borrowing: The more money you borrow, the higher your interest rate will likely be.
  • The term of the loan: The longer the term of the loan, the higher your interest rate will likely be.
  • The type of loan: Some types of loans, such as personal loans and business loans, have higher interest rates than others, such as home loans.

Conclusion

ASB Bank offers a wide range of loan products with competitive interest rates. However, it’s important to shop around and compare rates from different lenders before you apply for a loan.

You should also get pre-approved for a loan and make a large down payment to get the best possible interest rate.

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