Bank of China (New Zealand) Limited

The Arrangement is a mortgage offset product known as the Plus Offset Home Loan, which Bank of China (New Zealand) Limited offers to eligible home loan customers.  Interest is calculated on the net balance of the home loan after offsetting the credit balance of a linked Offset Savings Account, reducing the interest payable. The Arrangement is restricted to the home loan customer(s), and the Offset Savings Account must be held under the same legal ownership.  It cannot be linked to, or used by, family members or other third parties.