BNZ Home Loans

BNZ Home Loans   BNZ logo

BNZ is a New Zealand-based bank which provides home loans, personal loans, credit cards, accounts, insurance and investments.

Loan Options: What BNZ home loans offer

Here’s a snapshot of BNZ’s variable home loans currently on offer for a loan amount of $600,000 in Auckland. Please note that this table is formulated based on paying both principal and interest and results are sorted by our star rating (highest to lowest). To compare other home loans, please click here.

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The inclusions below represent a selection of the features available with a standard variable rate home loan for an owner occupier. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Please ensure that you read the product disclosure statement (PDS) to determine all the current loan terms and conditions for the product you are considering.

Variable home loan features to look for

What types of home loans does BNZ offer?

The three main types of home loan offered by BNZ are:

  • Fixed interest: if you to want to set up regular repayments knowing they’re not going to change for between 6 months and 5 years.
  • Variable/floating interest: if you want the flexibility of being able to make lump sum payments on your home loan and are comfortable knowing the interest rate may increase or decrease with the market.
  • Revolving credit: if you’re a good budgeter and want the flexibility to pay off or withdraw at any time.
  • Offset mortgage: if you want to pay less interest overall and link up to eight accounts together under the one policy.

Some of these loans have the options of taking payment holidays, going interest-free, or in the case of variable rate products, switching to a fixed-interest loan at any time. For more information on different types of home loans, check out the following articles:

Find out about how different types of home loans work here. See our comparison tables for details of BNZ home loans:

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Applying for a BNZ home loan is a simple process; just compare home loans on the Canstar website and apply online on the BNZ website for the loan of your choice. You can also call BNZ on 0800 275 269 any day of the week to speak to a home loan expert, or you can drop into your local BNZ branch when convenient to discuss lending advice.

Follow our applying for a home loan checklist, and use the Canstar website to compare BNZ home loans with other home loans before choosing a product that suits your needs:

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Before you start your application for a BNZ 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 a 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 BNZ home loans against other home loans before choosing a product that suits your needs:

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BNZ 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.

BNZ allows extra repayments on their Fixed and Floating interest home loans – Flexible home loans do not allow extra repayments. Note that extra repayments on a fixed-rate home loan may incur an early repayment charge. 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:


Yes, BNZ’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 BNZ 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:

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BNZ (Bank of New Zealand) is one of the oldest companies in New Zealand, having opened its first branch in Auckland back in 1861. Over the years the bank has held the account of the New Zealand Government, opened offices all around the world, become the first bank in the nation to offer personal loans, along with many other milestones. BNZ was acquired by National Australia Bank (NAB) in 1992, and has since expanded into one of New Zealand’s largest financial institutions.

Source: Bank of New Zealand

BNZ is active in the community, with a plethora of sponsorships and volunteering initiatives. The company’s Closed For Good program sees the bank close its doors for one day a year and send more than 3,000 staff out to volunteer on projects nationwide. BNZ has partnerships with organisations such as Plunket, to help young families budget, and Age Concern, which works to reduce financial abuse of the elderly. The bank also provides financial literacy education to under-resourced communities. 

BNZ is committed to sustainable development. The bank was the first to become fully carbon neutral in September 2010, and in the same year became New Zealand’s largest Fairtrade workplace, meaning that all tea, coffee and sugar consumed by BNZ is Fairtrade-certified. Each of BNZ’s three main office buildings has a 5-star environmental rating, and the company also has an internal Green Team of over 300 staff members who advocate for more sustainable practices. With 89% of BNZ’s transactions now made online, the company is moving rapidly towards a future with less material consumption. 

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BNZ Home Loans

Canstar Research
Award: 4 Star Rating Home Loans

Home Loans Floating Rate

BNZ TotalMoney

View the 2018 Home Loans Star Ratings Report

Written by: Regina Collins | Last updated: May 15, 2018