Bank of New Zealand (BNZ) is offering a new linked home loan and credit card, dubbed as HomeAdvantage MasterCard, in a bid to reward and attract mortgage clients.
Featuring a purchase interest rate of 5.99%, equal to BNZ’s Standard/Fly Buys variable home loan rate, the card does not carry any annual account fee, including that for an additional card.
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BNZ offers standard credit card interest rates of 19.95% and their low rate offers have been 13.25% earlier, reported interest.co.nz.
In order to get the new HomeAdvantage card, consumers should have any type of BNZ home loan with a loan-to-value ratio (LVR) of 80% or less, and a BNZ transaction account.
Additionally, BNZ has launched a ‘Low Rate’ MasterCard that features a 12.95% normal purchase interest rate, which is less than its Lite Visa card with 13.25% interest rate, which is no longer available for new customers.
Both the "Low Rate" Mastercard and the "Lite" Visa card carry an annual account fee of $60.
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By GlobalDataAccording tot he company, BNZ home loan and the HomeAdvantage cards should be used by consumers only for personal purposes.
