Our six year home loan guarantee

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.

Six years

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.

You show us

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.

Independent assessment

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.

"Apples with apples"

You must "compare apples with apples". In particular, your comparison must be:

  • with a home loan that (1) you and other similar members of the general public could’ve obtained when you obtained your Kiwibank Home Loan (2) was offered to the general public in the ordinary course of the business of any of the registered banks listed at the end of these terms (3) was offered for the same period as your Kiwibank Home Loan, and on equivalent terms; and
  • based on identical patterns of use (e.g. if you fix the interest rate on your Kiwibank Home Loan during its term, your comparison must show what fixed interest rate you’d have obtained from the other bank when you fixed).

Overall difference

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:

  • all home loan related interest and fees (including, for example, any transaction fees for revolving home loans), excluding fixed rate break costs; and
  • all other fees and interest saved and paid by taking the home loan (including, for example, higher every day transaction fees offered in return for lower home loan interest rates).

No breach

You can’t claim if you’re in breach of your Kiwibank Home Loan.

Comparison banks


ASB (but not its Bank Direct division)

Bank of New Zealand