Kina Bank has launched to the market the lowest home loan rates in PNG history with a three year fixed rate of 5.47% and the standard variable interest rate of 5.95%.
“…three year fixed rate of 5.47% and the standard variable interest rate of 5.95%
Kina Bank is committed to helping their customers buy their own homes and want to provide the best options for everyone – and always first. They have been driving competition in the banking sector that has led to lower costs for customers across the country. Their new home loan rates are a win for everyone.
Executive General Manager, Personal Banking Mr. Adam Downie said, “We are lowering the cost of banking to make life easier for all Papua New Guineans and our new home loan rates will help more people afford their own homes.”
Last year when the bank introduced their home loan rate of 6.47%, it prompted other banks to follow suit and drop their home loan rates as well. Kina Bank aims to be disruptive in the market, raising the level of competition because competition is good for customers.
“We are excited to launch Papua New Guinea’s lowest ever home loan rates,” said Mr Downie. “With the new three year fixed rate home loan of 5.47%, customers are able to plan their finances with certainty. Owning a house or property offers security and comfort for you and your family. And it’s not just an investment, it’s about building a place you can call home.”