Product
Provider
Rate
Fee
Monthly repayment
NZ$3,098
NZ$595,148total interest
NZ$1,115,148total repaid
| Deposit tier | Rate | Monthly | Total interest | Total repaid |
|---|---|---|---|---|
| Deposit < 5% | 7.44% | NZ$3,615 | NZ$781,247 | NZ$1,301,247 |
| Deposit 5% – 9% | 7.14% | NZ$3,509 | NZ$743,097 | NZ$1,263,097 |
| Deposit 10% – 14% | 6.69% | NZ$3,352 | NZ$686,719 | NZ$1,206,719 |
| Deposit 15% – 19% | 6.29% | NZ$3,215 | NZ$637,497 | NZ$1,157,497 |
| Deposit 20% – 24%your tier | 5.94% | NZ$3,098 | NZ$595,148 | NZ$1,115,148 |
| Deposit ≥ 25% | 5.94% | NZ$3,098 | NZ$595,148 | NZ$1,115,148 |
Estimate only. Assumes principal & interest, constant rate for full term.
| Deposit < 5% | 7.44% |
| Deposit 5% – 9% | 7.14% |
| Deposit 10% – 14% | 6.69% |
| Deposit 15% – 19% | 6.29% |
| Deposit 20% – 24% | 5.94% |
| Deposit ≥ 25% | 5.94% |
Higher deposit = lower LVR = better rate
BNZ Rapid Repay is a flexible floating mortgage that lets you make unlimited extra repayments and redraw funds if needed. It's designed for borrowers who want to accelerate their mortgage payoff while retaining access to surplus funds in an emergency.
The redraw feature distinguishes Rapid Repay from a standard floating loan — you can claw back extra payments you've made without applying for a new facility. The floating rate is higher than fixed alternatives, so this product rewards those who actively manage their loan balance.