ASB Home Loans
Posted by Sam Bloom February 13th 2018
Loan options: What ASB home loans offer
To get detailed information and compare ASB home loan products, check out Canstar’s latest Star Ratings for their products.
Variable home loan features to look for
- Offset account available on selected loan products
- Redraw facility available
- Additional repayments allowed
- No fee for early repayment
- Repayments may be made weekly, fortnightly or monthly
What types of home loans does ASB offer?
The three main types of home loan offered by ASB are:
- Fixed interest: A fixed interest rate for up to five years, with fixed repayments
- Variable interest: An interest rate that goes up and down with the market
- Revolving credit: A home loan that lets you borrow more money against your home loan (within limits), as well as make extra repayments
Both loans have the options of taking payment holidays, going interest-free, or with a variable loan, switching to a fixed-interest loan at any time. For more information on different types of home loans, check out the following articles:
- Fixed rate home loan
- Floating rate home loan
- Flexible (line of credit) home loan
- Interest only home loan
- Investment home loan
- Refinancing home loan
- Self-employed (low doc) home loan
- SMSF home loan
Find out about how different types of home loans work here. See our comparison tables for details of ASB home loans:
Applying for an ASB home loan is a simple process; just compare home loans on the Canstar website and apply online on the ASB website for the loan of your choice. You can also call ASB on 0800 100 600 any day of the week to speak to a home loan expert; you can drop into your local ASB branch; or you can find a mobile lending manager who can visit you when convenient to discuss lending advice.
Follow our applying for a home loan checklist, and use the Canstar website to compare ASB home loans with other home loans before choosing a product that suits your needs:
Before you start your application for an ASB home loan, you will need evidence of:
- Your income, including salary, dividends, rent, business profits, etc.
- Your expenses, such as food, rent, bills, loan debts, insurance, etc.
- Your deposit – how much cash or equity you have, including any KiwiSaver investments
- Your personal details, including some form of valid photo ID such as your passport or drivers licence
For more information on what is involved, follow our applying for a home loan checklist, and use the Canstar website to compare ASB home loans with other home loans before choosing a product that suits your needs:Compare Home Loans
ASB offers you the option of making weekly, fortnightly or monthly payments on fixed interest and floating interest home loans; flexible home loans have no set frequencies. As with most banks, interest is calculated daily on your remaining principal; this means that any payment you make before your monthly due date will reduce your principal, and thus reduce the amount of interest you have to pay.
ASB allows extra repayments on its fixed and floating interest home loans – flexible home loans do not allow extra repayments. You can also make lump sum repayments at any time, and any extra payments are available for redraw (withdrawal from your loan) at no cost if you change your mind. Terms and conditions apply; contact your lender for details.
Find out how making extra repayments could save money in interest over the life of your loan in this article or use our Extra Repayments Calculator for yourself:Home Loans Extra Repayments Calculator
Yes, ASB’s variable rate home loans offer the option to top up your home loan (i.e. borrow back more money that you’ve already paid off). You can apply for a loan top-up using ASB Internet Banking. Fees and charges may apply to use of a redraw facility; contact your lender for details or learn more about redraw facilities here.
If you’re in the market for a home loan, compare your home loan options with Canstar:Compare Home Loans
ASB (or Auckland Savings Bank) is New Zealand’s first savings bank, and opened back in 1847. Over the last 170 years, it continues to push the boundaries of modern-day banking, evolving in a digital age.
ASB’s main pledge is to serve its customers, encouraging them, and all kiwis to grow. By inspiring its customers to strive for success, it is also pushed to strive for success.
Some ASB home loans received a 5-Star Rating from Canstar in our most recent Star Ratings; see our home loans comparison pages for details.Compare Home Loans