Product
Provider
Rate
Fee
Repayment calculator
NZ$
%
Monthly repayment
NZ$2,681
NZ$445,272total interest
NZ$965,272total repaid
| Deposit tier | Rate | Monthly | Total interest | Total repaid |
|---|---|---|---|---|
| Deposit < 5% | 6.15% | NZ$3,168 | NZ$620,475 | NZ$1,140,475 |
| Deposit 5% – 9% | 5.85% | NZ$3,068 | NZ$584,369 | NZ$1,104,369 |
| Deposit 10% – 14% | 5.40% | NZ$2,920 | NZ$531,186 | NZ$1,051,186 |
| Deposit 15% – 19% | 5.00% | NZ$2,791 | NZ$484,930 | NZ$1,004,930 |
| Deposit 20% – 24%your tier | 4.65% | NZ$2,681 | NZ$445,272 | NZ$965,272 |
| Deposit ≥ 25% | 4.65% | NZ$2,681 | NZ$445,272 | NZ$965,272 |
Estimate only. Assumes principal & interest, constant rate for full term.
Rates by deposit sizeLVR — Loan-to-Value Ratio
The percentage of the property value you're borrowing. A lower LVR means a bigger deposit and usually a better interest rate.
Example: Property NZ$800k, deposit NZ$160k → LVR = 80% (borrow 80%, own 20%).
| Deposit < 5% | 6.15% |
| Deposit 5% – 9% | 5.85% |
| Deposit 10% – 14% | 5.40% |
| Deposit 15% – 19% | 5.00% |
| Deposit 20% – 24% | 4.65% |
| Deposit ≥ 25% | 4.65% |
Higher deposit = lower LVR = better rate
About Fixed 1 Year
BNZ's 1-year fixed mortgage is a competitive offering backed by one of New Zealand's strongest cashback incentives. It's well-suited to first-home buyers and refinancers looking for a sharp rate plus an upfront cash contribution toward moving costs or fit-out.
The 1-year term is New Zealand's most popular, and BNZ consistently prices this term aggressively. With the cashback, your effective first-year cost can be materially lower than the headline rate suggests — just be aware of clawback terms if you refinance away within a set period.