Congratulations to the BNZ, rated the best bank for home loans by Kiwi mortgage holders in Canstar’s latest award survey.
Most of Canstar’s banking awards are based on research undertaken by our dedicated team of number crunchers. However, our Most Satisfied Customers Home Loans Award is different. It’s determined on the feedback we receive from hundreds of ordinary Kiwis about their levels of satisfaction with their mortgage lenders.
This year we canvassed the opinions of 1518 New Zealanders with home loans. Six mortgage lenders met the criteria for our award – ANZ, ASB, BNZ, Kiwibank, NZHL and Westpac – and their customers rated their lenders across the following categories:
- Overall Satisfaction
- Application & Loan Settlement
- Communication
- Customer Service
- Interest Rate
- Loan Flexibility
- Fees & Charges
- Value for Money
The BNZ: No.1 for Home Loan Satisfaction
The BNZ is the winner of our latest Most Satisfied Customers Home Loans Award thanks to great feedback from its customers. Of the financial institutions in our award survey, it was the only lender to earn a top 5-Star rating for Overall Satisfaction.
The BNZ offers the following home loans:
Standard (fixed or floating rate)
If taken out on a floating interest rate you have the flexibility to make lump sum repayments of any size at any time without penalty. If on a fixed interest rate, you’re able to make additional payments up to 5% of your loan balance each year.
TotalMoney/Offsetting (floating rate)
A TotalMoney floating home loan uses the combined balance of your TotalMoney everyday accounts and subtracts this from the balance of your home loan, so you only pay interest on the difference. BNZ offers unlimited transactions, no transaction fees and the ability to link up to 50 accounts. An establishment fee may apply.
Rapid Repay/Revolving credit (floating rate)
You can put all your available money into this account to lower your outstanding balance – reducing the overall amount of interest you’ll pay. The credit limit on the account steadily decreases, ensuring you stay on track with paying off the mortgage and reducing the overall balance.
Compare Home Loans with Canstar!
About the author of this page
Bruce Pitchers is Canstar NZ’s Content Manager. An experienced finance reporter, he has three decades’ experience as a journalist and has worked for major media companies in Australia, the UK and NZ, including ACP, Are Media, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. As a freelancer, he has worked for The Australian Financial Review, the NZ Financial Markets Authority and major banks and investment companies on both sides of the Tasman.
In his role at Canstar, he has been a regular commentator in the NZ media, including on the Driven, Stuff and One Roof websites, the NZ Herald, Radio NZ, and Newstalk ZB.
Away from Canstar, Bruce creates puzzles for magazines and newspapers, including Woman’s Day and New Idea. He is also the co-author of the murder-mystery book 5 Minute Murder.
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