Fixed rate home loans

At Kiwibank, it's our job to help you save money and get mortgage free quicker. One of the ways we do this is by giving you some of the best fixed interest rates in town, fixed for the term of your choice.

Features:

  • You can get a locked in rate so you know your repayments will stay the same throughout the term you choose, from six months to five years
  • Market–leading low rates – we continually review our rates to make sure they're among the best in market
  • You can make extra repayments of up to 5% of your loan balance in any calendar year.

View current interest rates.

This is all part of an overall deal that won't be beaten by the big banks for at least the first six years of your loan, and that's guaranteed*. Or we'll beat the difference.

  • Online
  • Face to face
  • By phone

The certainty of a fixed rate

A fixed rate is great to help you budget as your home loan repayments won't change over the fixed rate term, which can be from six months to five years.

And because your interest rate is fixed for the agreed period, if interest rates increase during that time, your interest rate and payments stay the same.

But remember that it does work the other way too. If interest rates start dropping, or if your circumstances change, you'll still be locked into the fixed rate and payments until your chosen term ends. If, for whatever reason, you decide to break your fixed rate early, we may charge you a fixed rate break cost. It's important you understand what this means, so make sure you give us a call to talk it through.

Early repayment limits

An early repayment limit is the extra amount you can pay off your fixed rate home loan, over and above your minimum repayments.

You can make extra payments of up to 5% of what you owe, either by increasing your regular repayments or by making one–off payments. You won't be charged lump sum repayment fees or fixed rate break costs to do this, as long as the total extra payments during the calendar year don't exceed 5% of your loan balance.

Use our calculator to see how much quicker you could pay off your loan by increasing your repayments.

To make a lump sum payment or increase your regular repayments, give us a call on 0800 000 654, 8am to 6pm Monday to Friday.

Get more flexibility

Many people put part of their loan on a fixed rate and part on a variable rate to give them more flexibility. They then get the best of both worlds from the certainty of the repayment amount for their fixed rate loan and the advantage of unlimited early repayments on their variable rate loan.

You can also choose more than one fixed term, with different rates, so different portions come off their fixed terms at different times. This smoothes the effect of interest rate changes, making it easier to manage your budget.

It's free and simple to switch to us

If you're ready to switch your home loan to us, you could save up to $1,200 with our free** refinancing package. With our easyswitch service, we'll also help close your old accounts and set up your new ones, and help redirect all your existing direct debits, bill payments, automatic payments — whatever you need.

Want to find out more or apply?

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*Kiwibank Home Loans are guaranteed to save you money on the overall cost of your home loan over the first six years compared with any equivalent home loan from the other big banks. Or we’ll beat the difference. The other big banks are ANZ, ASB (excluding BankDirect), BNZ and Westpac. The comparison must be with a home loan available to you and similar members of the general public and be based on identical patterns of use.

**The refinancing package is free if your loan is over $50,000, less than 80% of the current market value of the residential properties provided as security, transferred to Kiwibank without changing who owns the properties and secured by no more than two securities, if the refinancing documentation is not signed under a power of attorney and if the refinancing does not form part of a series of same day transactions. If you are using an apartment, townhouse or leasehold property as your security, you will need to obtain (and pay for) a registered valuation. The refinancing package is not available for business banking customers.