Product
Provider
Rate
Fee
Repayment calculator
NZ$
%
Monthly repayment
NZ$3,048
NZ$577,210total interest
NZ$1,097,210total repaid
| Deposit tier | Rate | Monthly | Total interest | Total repaid |
|---|---|---|---|---|
| Deposit < 5% | 6.59% | NZ$3,318 | NZ$674,333 | NZ$1,194,333 |
| Deposit 5% – 9% | 6.59% | NZ$3,318 | NZ$674,333 | NZ$1,194,333 |
| Deposit 10% – 14% | 6.59% | NZ$3,318 | NZ$674,333 | NZ$1,194,333 |
| Deposit 15% – 19% | 6.59% | NZ$3,318 | NZ$674,333 | NZ$1,194,333 |
| Deposit 20% – 24%your tier | 5.79% | NZ$3,048 | NZ$577,210 | NZ$1,097,210 |
| Deposit ≥ 25% | 5.79% | NZ$3,048 | NZ$577,210 | NZ$1,097,210 |
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% | 6.59% |
| Deposit 5% – 9% | 6.59% |
| Deposit 10% – 14% | 6.59% |
| Deposit 15% – 19% | 6.59% |
| Deposit 20% – 24% | 5.79% |
| Deposit ≥ 25% | 5.79% |
Higher deposit = lower LVR = better rate
About Floating
TSB's floating rate mortgage provides maximum flexibility — make extra repayments, pay off your loan early, or switch to a fixed rate at any time. It's the most versatile option for borrowers who expect their circumstances to change.
The variable rate is higher than TSB's fixed options, so this product is best used tactically: as a parking spot between fixed terms, the flexible portion of a split loan, or a short-term arrangement while you decide on your mortgage strategy.