Public notices

Information about upcoming or recent changes to Kiwibank accounts and services.

Upcoming changes

Home Loan Terms and Conditions

We’re updating our Home Loan Terms and Conditions. The change is effective from 1 June 2021.

Summary of change

We’re replacing Section 2 – “When can your home loan documents change?” with the following wording:

"Your home loan agreement and these terms give us the right to make specific changes to your home loan agreement. For example, our right to reduce or cancel the maximum credit limit on an ongoing revolving portion.

In addition, we can change your home loan agreement, these terms and our fees n' limits brochure at any time, but we must give at least 14 days' notice before you are bound by the change.

Our general terms explain how those terms and conditions can be changed."

The words in bold have a specific meaning. You can find out the meaning of these words in our Home Loan Terms and Conditions.

The change makes it easier for us to roll out new and improved documents. While the change gives us a broader right to make changes, we’ll continue to treat you fairly and not use this right in an unreasonable manner.

Download a copy of the updated Home Loan Terms and Conditions (PDF 208.2 KB) effective from 1 June 2021.

Changes to our fingerprinting services

From 30 April 2023, we’ll no longer offer manual fingerprinting services.

Recent changes

Changes to Credit Card Repayment Insurance - 1 April 2021

We've made the decision to stop offering Credit Card Repayment Insurance from 1 April 2021. Customers will no longer be able to apply for Credit Card Repayment Insurance when opening a new Kiwibank Credit Card account.

If you’re an existing Credit Card Repayment Insurance policy owner, your cover will remain in place. However, if you decide to change your Kiwibank Credit Card type or set up a joint credit card from 30 April 2021, your Credit Card Repayment Insurance cover will end and you won't be able to apply for Credit Card Repayment Insurance on your new card.

Kiwi Insurance has made the following changes to the Credit Card Repayment Insurance Cover wording to reflect this:

  • Removal of the following paragraph which was on page 7 of the previous cover wording:

Kiwibank will set up a new Kiwibank Credit Card account for your new Kiwibank Credit Card. If the policy owner chooses to have Credit Card Repayment Insurance, Kiwibank will set up a new Credit Card Repayment Insurance agreement. The standard terms and conditions will apply.

  • Minor wording changes to the Cardholder descriptor on page 7 of the previous cover wording.

Download a copy of the updated Credit Card Repayment Insurance Cover wording (PDF 215.5 KB) effective from 30 April 2021.

Changes to our Membership Packages - 1 April 2021

We've made some changes to our Membership Packages for partners including Mates Rates and Public Service Association (PSA) packages:

  • From 1 April 2021: We're no longer be offering the Membership Packages to new customers. 
  • From 1 April 2022: We're no longer be offering the Membership Packages benefits to existing customers.

For more information about the changes, visit our Membership Packages page.

Changes to our everyday accounts - 25 March 2021

From Thursday 25 March 2021, we've stopped offering Bill Blaster, Front Runner and Now accounts.

This means from this date, you won’t be able to open a Bill Blaster, Front Runner or Now account. If you currently have a Bill Blaster, Front Runner or Now account, you'll be able to continue to use your account(s).

We've simplified our offering to one everyday account; Free Up account. Free Up has been our most popular everyday account with no monthly account or electronic transaction fees.

As a result of this change, we’re updating our Personal Banking fees and limits brochure. Our updated Personal Banking fees and limits brochure (PDF 191.9 KB) (effective 25 March 2021) will reflect these changes.

Changes to our Personal Loans terms and conditions and Personal Loans Repayment Protection Insurance Policy - 15 March 2021

Effective from 15 March 2021, we’ve updated the Personal Loans terms and conditions and the Personal Loans Repayment Protection Insurance Policy to include the Prescribed Statement Disclosure below as required under the Financial Markets Act 2013.

Prescribed Statement Disclosure – Latitude Financial Services Limited – Personal Loans

Kiwibank Personal Loans are provided by Latitude Financial Services Limited (Latitude). You are protected by responsible lending laws. Because of these protections, the recommendations given to you by Latitude about personal loans, credit cards and any credit related insurance products are not regulated financial advice. This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.

Prescribed Statement Disclosure – Latitude Financial Services Limited – Personal Loans Repayment Protection Insurance

You are protected by responsible lending laws. Because of these protections, the recommendations given to you about any credit related insurance products are not regulated financial advice. This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.

Download a copy of the updated Personal Loans terms and conditions (PDF 144.0 KB) effective from 15 March 2021. A copy of the updated Personal Loans Repayment Protection Insurance Policy will be made available upon request on 0800 549 454.

Savings accounts interest rate – 1 March 2021

We've made changes to the interest rates of our savings accounts following changes in the market. These changes were effective from Monday 1 March 2021. You can manage your savings and investment accounts through your internet banking or mobile app.

Interest rates and rates of return are subject to change.

Notice Saver

The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment. From 1 March 2021 the following rates apply:

Notice Saver

Previous rates*

Rates as of 1 March 2021*

32 days

0.50% p.a.

0.40% p.a.

90 days

1.00% p.a.

1.00% p.a.

*Minimum Investment $2,000

Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver (PDF 196.4 KB).

Online Call, PIE Online Call Fund and Business Online Call

Online Call has a variable interest rate and includes bonus interest if no withdrawals are made in a calendar month.

 

Previous rate

Rates as of 1 March 2021

Base rate

0.05% p.a.

0.05% p.a.

Bonus rate

0.25% p.a.

0.20% p.a.

Total rate

0.30% p.a.

0.25% p.a.

Units in the Kiwibank PIE Online Call Fund are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. Download the Terms and Conditions for the Kiwibank PIE Online Call Fund (PDF 197.6 KB).

Fast Forward Saver

Fast Forward Saver has a variable interest rate and includes bonus interest if at least $20 is deposited, and no withdrawals are made, in a calendar month.

 

Previous rate

Rates as of 1 March 2021

Base rate

0.05% p.a.

0.05% p.a.

Bonus rate

0.25% p.a.

0.20% p.a.

Total rate

0.30% p.a.

0.25% p.a.

Personal Banking fees and limits brochure – 1 February 2021

We're updating our Personal Banking fees and limits brochure.

Summary of changes:

As of 1 February 2021, we no longer offer our Tertiary and Graduate Packs. Our updated Personal Banking fees and limits brochure (PDF 147.1 KB) (effective 1 February 2021) will reflect these changes and will be released on 12 February 2021.

For more information, please refer to the public notice below regarding changes to our student packages.

Student packages – 1 February 2021

We've made changes to our Tertiary Pack and Graduate Pack. From 1 February 2021:

  • we’ll no longer be offering our Tertiary Pack or Graduate Pack to customers
  • customers with a Tertiary Pack or Graduate Pack won't be able to extend it past the agreed expiry date.

If you're currently on a Tertiary Pack or Graduate Pack, your benefits will continue until the agreed expiry date. Graduate Pack customers with established personal loans keep the agreed rate until the term of their loan expires.

Fingerprinting services – 30 December 2020

From 30 December 2020 we’ll no longer offer electronic fingerprinting. However, our manual fingerprinting services will still be available in selected branches.

General terms and Conditions, Privacy Policy and Website Terms of Use – 1 December 2020

We're updating our General Terms and Conditions, Privacy Policy and Website Terms of Use. These changes are effective from 1 December 2020.

Summary of changes:

We're updating our:

  • General Terms and Conditions to simplify section 4 to refer to our Privacy Policy and add information to section 7 to enable us to contact you if we think there are products that would better suit your needs than the ones you're currently using.
  • Privacy Policy to make it easy to find information about our ongoing commitment to the security of your personal information.
  • Website terms to be more specific about the use of the website and include reference to the privacy policy.

Download a copy of the new General terms and conditions brochure (PDF 249.0 KB) or Privacy policy. You can also view the new Website Terms. These will all become effective 1 December 2020.

Home loan fees – 1 December 2020

We're making changes to some of our home loan fees. These changes will be effective from 1 December 2020.

The changes have been summarised below. See full descriptions of when each fee is applicable or download the new Personal Banking fees and limits brochure (PDF 143.1 KB) effective from 1 December 2020.

Home loans fees being removed

Fee type

Old fee

New fee

Lump sum repayment administration fee

$10

Removed

Home loan fees being changed

Fee type

Old fee

New fee

Loan restructure fee – simple request*

$30

$25

Loan restructure fee – complex request*

$60

$55

Top up fee

$120

$95

Consent fee

$50

$30

*See full descriptions of when each fee is applicable.

Business lending fees – 1 December 2020

We’re making changes to some of our business lending fees. These changes will be effective from 1 December 2020.

The changes are summarised below. See full descriptions of when each fee is applicable or download the new Business Banking fees and limits brochure (PDF 128.3 KB) effective from 1 December 2020.

Business lending fees being removed

Fee type

Old fee

New fee

Settlement statement fee

$45

Removed

Lump sum repayment administration fee

$40

Removed

Business lending fees being changed

Fee type

Old fee

New fee

Consent fee

$100

$30

Demand fee

$50

$25

Discharge of security fee

$75

$35

Lending restructure fee*

$175

$25

Security restructure fee*

$200

$135

*See full descriptions of when each fee is applicable.

Savings accounts interest rate – 1 December 2020

We've made changes to the interest rates of our savings accounts following changes in the market. These changes were effective from Tuesday 1 December 2020. You can manage your savings and investment accounts through your internet banking or mobile app.

Interest rates and rates of return are subject to change.

Notice Saver – 1 December 2020

The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment. From 1 December 2020 the following rates apply:

Notice Saver

Previous rates*

Rates as of 1 December 2020*

32 days

0.65% p.a.

0.50% p.a.

90 days

1.00% p.a.

1.00% p.a.

*Minimum Investment $2,000

Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver (PDF 196.4 KB).

Online Call, PIE Online Call Fund and Business Online Call – 1 December 2020

Online Call has a variable interest rate and includes bonus interest if no withdrawals are made in a calendar month.

Balance

$0 - $1,999

$2,000+

Previous rates

Base rate

0.00% p.a.

0.05% p.a.

Bonus rate

0.00% p.a.

0.45% p.a.

Total rate

0.00% p.a.

0.50% p.a.

Rates as of 1 December 2020

Base rate

No change

0.05% p.a.

Bonus rate

No change

0.25% p.a.

Total rate

No change

0.30% p.a.

Units in the Kiwibank PIE Online Call Fund are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. Download the Terms and Conditions for the Kiwibank PIE Online Call Fund (PDF 197.6 KB).

Fast Forward Saver – 1 December 2020

Fast Forward Saver has a variable interest rate and includes bonus interest if at least $20 is deposited, and no withdrawals are made, in a calendar month.

 

Previous rate

Rate as of 1 December 2020

Base rate

0.05% p.a.

0.05% p.a.

Bonus rate

0.45% p.a.

0.25% p.a.

Total rate

0.50% p.a.

0.30% p.a.

First Saver – 1 December 2020

Balance

Previous rate

Rate as of 1 December 2020

$0+

0.50% p.a.

0.25% p.a.

Front Runner – 1 December 2020

Balance

Previous rate

Rate as of 1 December 2020

$0 - $3,999

0.00% p.a.

No change

$4,000 - $99,000

0.05% p.a.

No change

$100,000+

0.15% p.a.

0.10% p.a.

Business Performer – 1 December 2020

Balance

Previous rate

Rate as of 1 December 2020

$0 - $4,999

0.00% p.a.

No change

$5,000 - $99,000

0.05% p.a.

No change

$100,000+

0.15% p.a.

0.10% p.a.