For more information on any of these notices please phone our helpful Contact Centre team on Phone or send us an email
Changes to Interest Rates – 24 October 2023
Effective from 24 October 2023.
The following interest rates are effective from:
- 24 November 2023 for existing home loans (entered into prior to 24 October 2023).
- 24 October 2023 for new home loans.
|
Floating Rate |
Old Rate |
New Rate |
|
Advance Loans |
9.75% |
9.95% |
|
Superior Bank Unwind Loans |
9.75% |
9.95% |
Interest rates are subject to change.
Changes to our Credit Fees and Charges – 1 October 2023
Effective from 1 October 2023.
We are making changes to our fees and charges for Superior Bank Residential Lending (including First Home Loans, Advance and Unwind Reverse Equity Mortgages), Residential Investing Lending, and Rural and Commercial Loans.
From 1 October 2023, the following fees and charges will be removed:
|
Administration Fee |
Removed (previously $40.00) |
|
Loan Restructure Fee |
Removed (previously $95.00) |
|
Request Disclosure |
Removed (previously $40.00) |
A full list of our updated Credit Fees and Charges which apply from 1 October 2023 are available on request and free of charge from any of our branches
Changes to Call Accounts – 14 September 2023
Effective from 14 September 2023.
We're no longer offering tiered rates on our call accounts and the same interest rate will be available regardless of the balance on the account.
Call Accounts
|
Rate |
Tier |
Old Rate |
New Rate |
|---|---|---|---|
|
Share/Deposit |
$1-$49,999 |
1.55% |
N/A |
|
Share/Deposit |
$50,000-$99,999 |
1.55% |
N/A |
|
Share/Deposit |
$100,000+ |
1.90% |
N/A |
|
Share/Deposit |
N/A |
N/A |
1.90% |
Interest rates are subject to change.
Changes to Interest Rates – 27 May 2023
Effective from 27 June 2023 for existing, 27 May 2023 for new.
Changes to Floating Home Loan Rates
Our floating home loan interest rates are increasing below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
8.49% |
8.74% |
|
Residential Investing Term Loans |
8.99% |
9.24% |
|
Residential Flexi Loans |
8.49% |
8.74% |
|
Residential Investing Flexi Loans |
8.99% |
9.24% |
|
Advance (Reverse Equity Mortgage) Loans |
9.00% |
9.50% |
|
Superior Bank Unwind (Reverse Equity Mortgage) Loans |
9.00% |
9.50% |
Changes to Floating Agribusiness and Commercial Loan Rates
Our floating Agribusiness and Commercial interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Agribusiness Loans |
9.74% |
9.99% |
|
Agribusiness Flexi Loans |
10.10% |
10.35% |
|
Commercial Loans |
10.89% |
11.14% |
|
Commercial Flexi Loans |
11.29% |
11.54% |
Interest rates are subject to change.
Changes to Interest Rates - 18 April 2023
Effective from 20 May 2023 for existing, 20 April 2023 for new.
Changes to Floating Home Loan Rates
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
7.99% | 8.49% |
|
Residential Investing Term Loans |
8.49% | 8.99% |
|
Residential Flexi Loans |
7.99% | 8.49% |
|
Residential Investing Flexi Loans |
8.49% | 8.99% |
| Advance (Reverse Equity Mortgage) Loans |
8.50% |
9.00% |
| Superior Bank Unwind (Reverse Equity Mortgage) Loans |
8.50% |
9.00% |
Changes to Floating Agribusiness and Commercial Loan Rates
Our floating Agribusiness and Commercial interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Agribusiness Loans |
9.24% | 9.74% |
|
Agribusiness Flexi Loans |
9.60% | 10.10% |
|
Commercial Loans |
10.39% | 10.89% |
|
Commercial Flexi Loans |
10.79% | 11.29% |
Changes to Call and Savings Interest Rates
The following Savings interest rates are changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
i-save |
1.65% | 1.85% |
| Incentive Saver | 2.60% |
2.80% |
The Treasury Call (Share), Treasury Call (Deposit) and Prospector Call accounts' floating rates are changing as below:
|
Tier |
CURRENT FLOATING RATE P.A |
NEW FLOATING RATE P.A |
|---|---|---|
|
$1 - $49,999 |
1.35% | 1.55% |
|
$50,000 - $99,999 |
1.55% | 1.75% |
|
$100,000+ |
1.70% | 1.90% |
Interest rates are subject to change.
Changes to Credit Fees and Charges - 12 December 2022
Effective from 9 December 2022
The following fees and charges will be reduced as below.
|
Category |
CURRENT FEE |
NEW FEE |
|---|---|---|
|
Administration Fee |
$45.00 | $40.00 |
|
Early Repayment Administration Fee |
$45.00 | $40.00 |
| Loan Restructure Fee |
$100 |
$95 |
| Loan Application Fee for Residential Lending |
$250.00 |
NIL |
A copy of the new Credit Fees and Charges is available.
Changes to Interest Rates - 12 December 2022
Effective from 7 January 2023 for existing, 7 December 2022 for new.
Changes to Floating Home Loan Rates
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
7.29% | 7.99% |
|
Residential Investing Term Loans |
7.79% | 8.49% |
|
Residential Flexi Loans |
7.29% | 7.99% |
|
Residential Investing Flexi Loans |
7.79% | 8.49% |
| Advance (Reverse Equity Mortgage) Loans |
7.75% |
8.50% |
| Superior Bank Unwind (Reverse Equity Mortgage) Loans |
7.75% |
8.50% |
Changes to Floating Agribusiness and Commercial Loan Rates
Our floating Agribusiness and Commercial interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Agribusiness Loans |
8.49% | 9.24% |
|
Agribusiness Flexi Loans |
8.85% | 9.60% |
|
Commercial Loans |
9.64% | 10.39% |
|
Commercial Flexi Loans |
10.04% | 10.79% |
Changes to Call and Savings Interest Rates
The following Savings interest rates are changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
i-save |
1.15% | 1.65% |
| Kiwidream Saver | 1.15% |
1.65% |
The Treasury Call (Share), Treasury Call (Deposit) and Prospector Call accounts' floating rates are changing as below:
|
Tier |
CURRENT FLOATING RATE P.A |
NEW FLOATING RATE P.A |
|---|---|---|
|
$1 - $49,999 |
0.85% | 1.35% |
|
$50,000 - $99,999 |
1.05% | 1.55% |
|
$100,000+ |
1.20% | 1.70% |
Interest rates are subject to change.
Changes to Interest Rates - 20 October 2022
Effective from 20 November 2022 for existing, 20 October 2022 for new.
Changes to Floating Home Loan Rates
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
6.79% | 7.29% |
|
Residential Investing Term Loans |
7.29% | 7.79% |
|
Residential Flexi Loans |
6.79% | 7.29% |
|
Residential Investing Flexi Loans |
7.29% | 7.79% |
| Advance (Reverse Equity Mortgage) Loans |
7.35% |
7.75% |
| Superior Bank Unwind (Reverse Equity Mortgage) Loans |
7.35% |
7.75% |
Changes to Floating Agribusiness and Commercial Loan Rates
Our floating Agribusiness and Commercial interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Agribusiness Loans |
7.99% | 8.49% |
|
Agribusiness Flexi Loans |
8.35% | 8.85% |
|
Commercial Loans |
9.14% | 9.64% |
|
Commercial Flexi Loans |
9.54% | 10.04% |
Changes to Call and Savings Interest Rates
The following Savings interest rates are changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
i-save |
0.75% | 1.15% |
| Incentive Saver | 1.45% |
1.85% |
| Kiwidream Saver | 0.75% |
1.15% |
The Treasury Call (Share), Treasury Call (Deposit) and Prospector Call accounts' floating rates are changing as below:
|
Tier |
CURRENT FLOATING RATE P.A |
NEW FLOATING RATE P.A |
|---|---|---|
|
$1 - $49,999 |
0.45% | 0.85% |
|
$50,000 - $99,999 |
0.65% | 1.05% |
|
$100,000+ |
0.80% | 1.20% |
Interest rates are subject to change.
Changes to Interest Rates - 2 June 2022
Effective from 3 July 2022 for existing, 3 June 2022 for new.
Changes to Floating Home Loan Rates
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
5.29% | 5.79% |
|
Residential Investing Term Loans |
5.79% | 6.29% |
|
Residential Flexi Loans |
5.29% | 5.79% |
|
Residential Investing Flexi Loans |
5.79% | 6.29% |
| Advance (Reverse Equity Mortgage) Loans |
6.35% |
6.85% |
| Superior Bank Unwind (Reverse Equity Mortgage) Loans |
6.35% |
6.85% |
Changes to Call and Savings Interest Rates
The following Savings interest rates are changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
i-bank / Financial Advice Managed Account |
0.30% | 0.45% |
|
i-save |
0.20% | 0.40% |
| Incentive Saver - Base Rate | 0.05% |
0.35% |
| Incentive Saver - Bonus Rate | 0.70% |
0.90% |
The Treasury Call (Share), Treasury Call (Deposit) and Prospector Call accounts' floating rates are changing as below:
|
Tier |
CURRENT FLOATING RATE P.A |
NEW FLOATING RATE P.A |
|---|---|---|
|
$1 - $49,999 |
0.30% | 0.45% |
|
$50,000 - $99,999 |
0.30% | 0.65% |
|
$100,000+ |
0.65% | 0.80% |
Interest rates are subject to change.
Changes to Floating Home Loan Rates - 20 April 2022
Effective from 21 May 2022 for existing, 21 April 2022 for new.
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
4.79% | 5.29% |
| First Home Loan Term Loans |
4.79% |
5.29% |
|
Residential Investing Term Loans |
5.29% | 5.79% |
|
Residential Flexi Loans |
4.79% | 5.29% |
|
Residential Investing Flexi Loans |
5.29% | 5.79% |
| Advance (Reverse Equity Mortgage) Loans |
5.85% |
6.35% |
| Superior Bank Unwind (Reverse Equity Mortgage) Loans |
5.85% |
6.35% |
Interest rates are subject to change.
Kiwidream Account Changes - 23 February 2022
Changes to Kiwidream Quarterly Prize Draw
From 1 July 2022, Superior Bank will no longer offer the Kiwidream Saver quarterly prize draw. Any outstanding vouchers that have not expired can be redeemed upon drawdown of your first home loan with Superior Bank. We’ve updated our Kiwidream Terms and Conditions to reflect this change. Our updated terms and conditions are available in any Superior Bank Branch or on our website.
Changes to Kiwidream Monthly Flat Fee
From 1 March 2022 we’ll no longer charge the monthly flat fee of $5.00 on the Kiwidream everyday account. We have updated our Account Charges to reflect this change. These are available in any Superior Bank branch and on our website.
Changes to Call and Savings Interest Rates - 23 December 2021
Effective from 22 December 2021
The i-bank Call bonus interest rate is changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
i-bank Call |
0.05% | 0.20% |
The Treasury Call (Share), Treasury Call (Deposit) and Prospector Call accounts' floating rates are changing as below:
|
Tier |
CURRENT FLOATING RATE P.A |
NEW FLOATING RATE P.A |
|---|---|---|
|
$1 - $49,999 |
0.10% | 0.20% |
|
$50,000 - $99,999 |
0.10% | 0.20% |
|
$100,000+ |
0.20% | 0.30% |
Interest rates are subject to change.
Changes to Credit Fees and Charges - 18 November 2021
Effective from 1 December 2021
The following fees and charges will no longer apply:
- Booked Fixed Rate Fee
- Debt Management Fee
- Default Fee
- Urgent Discharge Fee
- Interest Rate Fix Fee
- LMI Premium
- Low Equity Premium
The following fees and charges will be reduced as below.
|
Category |
CURRENT FEE |
NEW FEE |
|---|---|---|
|
Administration Fee |
$50.00 | $45.00 |
|
Consent Fee |
$100.00 | $65.00 |
| Discharge Fee |
$100.00 |
$40.00 |
| Request Disclosure Fee |
$40.00/hour |
$40.00 |
| Early Repayment Administration Fee |
$100.00 |
$45.00 |
| Loan Restructure Fee |
$200.00 |
$100.00 |
A copy of the new Credit Fees and Charges is available here.
Changes to Call and Savings Interest Rates - 5 November 2021
Effective from 6 November 2021
The following Call interest rates are changing as below.
|
PRODUCT |
CURRENT RATE P.A |
NEW RATE P.A |
|---|---|---|
|
i-bank Call Deposit Investment |
0.00% | 0.05% |
|
Trustees Deposits |
0.00% | 0.05% |
| Kiwidream Saver Flat Rate |
0.00% |
0.05% |
Interest rates are subject to change.
Changes to Call and Savings Interest Rates - 1 November 2021
Effective from 23 October 2021
The following Call and Savings interest rates are changing as below.
|
PRODUCT |
CURRENT RATE P.A |
NEW RATE P.A |
|---|---|---|
|
i-save |
0.05% | 0.10% |
The following rates apply to the Prospector Call and Treasury Call accounts.
|
TIER |
CURRENT VARIABLE INTEREST RATE P.A |
NEW VARIABLE INTEREST RATE P.A |
|---|---|---|
|
$0 - $99,999 |
0.05% | 0.10% |
|
$100,000+ |
0.15% | 0.20% |
Interest rates are subject to change.
Changes to Floating Home Loan Rates - 15 October 2021
Effective from 16 November 2021 for existing, 16 October 2021 for new.
Our floating home loan interest rates are increasing as below.
|
PRODUCT |
CURRENT FLOATING INTEREST RATE P.A |
NEW FLOATING INTEREST RATE P.A |
|---|---|---|
|
Residential Term Loans |
4.54% | 4.79% |
|
Residential Investing Term Loans |
5.04% | 5.29% |
|
Residential Flexi Loans |
4.54% | 4.79% |
|
Residential Investing Flexi Loans |
5.04% | 5.29% |
Interest rates are subject to change.
Changes to Call and Savings Interest Rates
Effective from 31 August 2020
The following Call and Savings interest rates are changing as below.
|
PRODUCT |
CURRENT BONUS RATE P.A |
NEW BONUS RATE P.A |
|---|---|---|
|
Incentive Saver |
0.60% | 0.45% |
The following rates apply to the Prospector Call, Treasury Call (Share) and Star Call accounts.
|
Tier |
CURRENT VARIABLE INTEREST RATE P.A |
NEW VARIABLE INTEREST RATE P.A |
|---|---|---|
|
$1 - $49,999 |
0.05% | 0.05% |
|
$50,000 - $99,999 |
0.05% | 0.05% |
|
$100,000+ |
0.25% | 0.15% |
Interest rates are subject to change.
Loan Terms and Conditions Changes - Welcome Home Loan
Effective from 15 September 2020
We are making changes to our Loan Terms and Conditions (dated 27 January 2016) as follows:
- ‘Welcome Home Loan’ has been replaced with ‘First Home Loan’ to reflect the name change of the product by Kāinga Ora.
- All Welcome Home Loans will be referred to as First Home Loans from 15 September 2020.
Interest rates are subject to change.