ASB raises fixed home loan and term deposit rates in New Zealand

ASB Bank announced on 6 August 2026 that it is increasing its fixed‑rate home loan prices by 10 to 26 basis points across six‑month to three‑year terms. At the same time, the bank lifted term‑deposit rates by 10 to 20 basis points on six‑month to two‑year products. Executive General Manager of Personal Banking Adam Boyd said the moves reflect “volatility in wholesale interest rates, which have climbed over the past month” and are in line with global market conditions. The adjustments bring ASB’s mortgage rates in line with Westpac, leaving Kiwibank as the only major New Zealand mortgage lender that has not yet raised rates in this cycle. ASB said the changes aim to support savers with stronger deposit returns while ensuring lending rates reflect current funding costs.