BNZ Home Loan – Loan Review
Amount, $10 000 - $2 500 000 ;Term, 6 months - 30 years
Applying does not commit you to any agreement.
BNZ Home Loan
BNZ (Bank of New Zealand) is one of the country's largest banks and offers home loans for first home buyers, investors and refinancers. Fixed rates start from 5.89% p.a. (1-year fixed as of 2025). The BNZ TotalMoney offset facility allows you to offset savings and transaction account balances against your mortgage, reducing the interest charged.
Applications can be started online or through a BNZ mobile mortgage manager. BNZ's online banking gives full visibility of your mortgage balance and repayment progress. Approval usually takes 5-10 working days.
BNZ's Flexi-home loan option allows you to redraw extra repayments, functioning as a revolving credit facility within your home loan.
✓ Pros
- TotalMoney offset facility
- Flexi-home loan redraw option
- Mobile mortgage managers
- Transparent online loan tracking
✗ Cons
- Break fees on fixed rate loans
- 5-10 working days for approval
- 20% deposit required for investment properties
Loan Example
Example: $450,000 over 25 years at 5.89% p.a. = approx. $2,861/month.
Loan Requirements
- ✓ NZ citizen or permanent resident
- ✓ 18 years or older
- ✓ At least 5-10% deposit
- ✓ Verified income and employment history
- ✓ Property valuation required
Loan Features
- Online loans up to $2 500 000
- Term 6 months - 30 years
Frequently Asked Questions
6 months - 30 years after submitting your application.
The minimum amount at BNZ Home Loan is $10,000.
Yes, BNZ Home Loan offers an online application process. Visit their website to apply.