Bank launches new home loan rates

KINA Bank has launched a new home loan rates with a three year fixed rate of 5.47 per cent and the standard variable interest rate of 5.95 per cent.
Kina Bank in a statement yesterday said it was committed to helping customers buy their own homes, and providing the best options for everyone.
Executive general manager personal banking 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, the bank introduced its home loan rate of 6.47 per cent.
“Kina Bank aims to be disruptive in the market, raising the level of competition because competition is good for customers,” Downie said.
“We are excited to launch Papua New Guinea’s lowest ever home loan rates.
“With the new three-year fixed rate home loan of 5.47 per cent, 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.”