24 Months Fixed
A 24 month fixed rate home loan, or two-year fixed rate home loan, lets you lock in a specific rate for two years. Then, when the 24-month fix rate period ends, you can select the floating or fixed rate your bank or another is offering.
WHEN A 24-MONTH FIXED RATE TERM MAY SUIT YOUR GOALS OR NEEDS
• If you are conscious of your spending and want to pay a consistent amount for a medium-length period of time, a two-year fixed home loan can be an option.
• A 24-month home loan term could possibly suit those that are new to home loans, such as first home buyers. Such a term provides certainty to repayments and is not too far away to review when the rate expires.
• Borrowers that are not interested in re-fixing or reviewing their loans within a short time period, such as a 6-month home loan rate or 12-month home loan rate.
• This fixed rate term is one of the more popular with borrowers (dependent on the rate) as it doesn't feel too short or too long.
24 MONTH FIXED RATES
Below, we have included a table with banks’ advertised special and standard 24-month home loan rates. Here you can compare the "advertised" home loan rates for each bank.
You will note we have used the term "advertised". Often, we can get the banks to offer lower rates. If you are a first-home buyer, you may also qualify for cash.
24 MONTH HOME LOAN FIX RATES |
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BANK..........................SPECIAL RATE* ANZ...............................................................4.15% ASB...............................................................4.35% BNZ CLASSIC.................................................4.15% THE CO-OPERATIVE BANK.............................4.15% SBS BANK.....................................................3.69% WESTPAC BANK............................................4.35% |
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Last updated Friday 19 November 2021, 9.46am
*Special Rates come with terms and conditions. e.g available for owner occupied home loans with at least 20% equity/ deposit and in some cases apply to First Home Loan customers with up to 5% deposit.
Disclaimer
Every possible effort has been made to keep the information in this table as accurate as possible. However, neither the publishers of Mortgage Field nor anyone engaged to compile this table accept any liability for inaccuracies or any loss suffered as a result.
It is strongly advised that readers check loan details with the respective banks.
The examples shown above are only a guide and so we strongly recommend you contact us to ensure that this rate is fit for purpose.