Compare NZ Mortgage Rates

Current home loan rates from major New Zealand banks

Last updated: 14 January 2026 at 7:02 am (NZ time) • Rates update daily

How to Compare NZ Mortgage Rates

When comparing home loan rates across New Zealand banks, it's important to understand the difference between special rates and standard rates. Special rates typically require 20% equity (80% LVR or lower) and may have additional conditions. Standard rates are generally available to all borrowers.

Use our free mortgage calculator to see how these rates affect your repayments, including advanced features like split loans and offset accounts.

Special Rates (20% Equity Required)

Bank	6 months	1 year	18 months	2 years	3 years	4 years	5 years
ANZ	4.69%	4.49%	4.69%	4.69%	5.09%	—	—
ASB	4.65%	4.49%	4.65%	4.75%	5.09%	5.39%	5.45%
BNZ	4.69%	4.49%	4.64%	4.69%	5.09%	5.29%	5.29%
Westpac	4.69%	4.49%	4.59%	4.75%	5.05%	5.29%	5.29%
Kiwibank	4.59%	4.49%	—	4.69%	5.15%	5.49%	5.59%
TSB	4.69%	4.49%	4.75%	4.69%	5.09%	5.29%	5.49%
SBS	4.69%	4.49%	4.69%	4.69%	5.09%	5.29%	5.29%

Standard Rates (Available to All Borrowers)

Bank	6 months	1 year	18 months	2 years	3 years	4 years	5 years
ANZ	5.29%	5.09%	5.29%	5.29%	5.69%	5.69%	5.69%
ASB	4.65%	4.49%	4.65%	4.75%	5.09%	5.39%	5.45%
BNZ	4.69%	4.49%	4.64%	4.69%	5.09%	5.29%	5.29%
Westpac	5.29%	5.09%	5.19%	5.35%	5.65%	5.89%	5.89%
Kiwibank	5.49%	5.39%	—	5.59%	5.95%	6.29%	6.39%
TSB	5.49%	5.29%	5.55%	5.49%	5.89%	6.09%	6.29%
SBS	5.29%	5.09%	5.29%	5.29%	5.69%	5.89%	5.89%

Calculate Your Mortgage Repayments

Use our free calculator to see how these rates affect your monthly payments, compare split loan strategies, and model offset accounts.

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Frequently Asked Questions

What's the difference between special and standard mortgage rates?

Special rates typically require at least 20% equity (80% LVR) and may have additional conditions like minimum loan amounts or property types. Standard rates are available to all borrowers regardless of equity level, making them more accessible but generally higher.

Which NZ bank has the best mortgage rates?

The "best" rate depends on your specific situation, loan amount, equity level, and chosen term. Rates change frequently, so it's important to compare current rates across all major banks. Use the tables above to see today's rates from ANZ, ASB, BNZ, Westpac, Kiwibank, SBS and TSB.

How often do mortgage rates change in New Zealand?

New Zealand mortgage rates can change daily, weekly, or monthly depending on the bank and market conditions. Our rates are updated daily to ensure you have the most current information when comparing home loan options.

Should I choose a fixed or floating mortgage rate?

Fixed rates provide payment certainty for the fixed term (6 months to 5 years), protecting you from rate increases but preventing you from benefiting if rates fall. Many New Zealanders use a split loan strategy, fixing portions at different terms to balance certainty and flexibility. Use our mortgage calculator to model different split loan scenarios.

For more FAQs visit our FAQ section.