Product
Provider
Rate
Fee
Repayment calculator
NZ$
%
Monthly repayment
NZ$3,064
NZ$583,175total interest
NZ$1,103,175total repaid
| Deposit tier | Rate | Monthly | Total interest | Total repaid |
|---|---|---|---|---|
| Deposit < 5% | 7.34% | NZ$3,579 | NZ$768,481 | NZ$1,288,481 |
| Deposit 5% – 9% | 7.04% | NZ$3,474 | NZ$730,479 | NZ$1,250,479 |
| Deposit 10% – 14% | 6.59% | NZ$3,318 | NZ$674,333 | NZ$1,194,333 |
| Deposit 15% – 19% | 6.19% | NZ$3,181 | NZ$625,327 | NZ$1,145,327 |
| Deposit 20% – 24%your tier | 5.84% | NZ$3,064 | NZ$583,175 | NZ$1,103,175 |
| Deposit ≥ 25% | 5.84% | NZ$3,064 | NZ$583,175 | NZ$1,103,175 |
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% | 7.34% |
| Deposit 5% – 9% | 7.04% |
| Deposit 10% – 14% | 6.59% |
| Deposit 15% – 19% | 6.19% |
| Deposit 20% – 24% | 5.84% |
| Deposit ≥ 25% | 5.84% |
Higher deposit = lower LVR = better rate
About Standard Variable
BNZ's Standard Variable mortgage gives you complete flexibility: extra payments, lump sums, or full repayment without penalties. BNZ's cashback offer also applies to variable borrowing, making it more accessible than many floating products.
The variable rate is higher than BNZ's fixed options, so this product works best as a strategic component — either as a parking spot between fixed terms or the flexible portion of a split loan. It suits borrowers expecting to make irregular large repayments.