Kiwibank guarantees you the lowest cost home loan. That means we'll better the price you would have paid for an equivalent home loan from any other bank with branches nationwide. This guarantee is strictly based on the terms below.
You can only claim if your comparison is over the first six years of your Kiwibank Home Loan and you make your claim within 12 months of the expiry of this six year period. But if you sell your home and immediately take another Kiwibank Home Loan for your new home, the six year period will continue to run.
It's up to you to show us what you'd have saved. But on request we'll give you reasonable help to do your comparison. And if you have most but not all the information required to show us what you'd have saved, we'll provide on request any of the further required information that we have on our database of competitors' rates and fees. You have to rely on any information we provide.
If you're not happy with how we deal with any claim you make, we'll arrange and pay for an independent assessment of your claim.
You must "compare apples with apples". In particular, your comparison must be:
Kiwibank will better the overall difference between what you paid for your Kiwibank Home Loan and what you'd have paid for a loan from another bank. This overall difference must take into account:
You can't claim if you're in breach of your Kiwibank Home Loan.
ASB (but not its Bank Direct division)
Bank of New Zealand