Information about upcoming or recent changes to Kiwibank accounts and services.
We’re updating our Home Loan Terms and Conditions. The change is effective from 1 June 2021.
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.
From 30 April 2023, we’ll no longer offer manual fingerprinting services.
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:
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.
Download a copy of the updated Credit Card Repayment Insurance Cover wording (PDF 215.5 KB) effective from 30 April 2021.
We've made some changes to our Membership Packages for partners including Mates Rates and Public Service Association (PSA) packages:
For more information about the changes, visit our Membership Packages page.
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.
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.
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.
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 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 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. |
We're updating our Personal Banking fees and limits brochure.
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.
We've made changes to our Tertiary Pack and Graduate Pack. From 1 February 2021:
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.
From 30 December 2020 we’ll no longer offer electronic fingerprinting. However, our manual fingerprinting services will still be available in selected branches.
We're updating our General Terms and Conditions, Privacy Policy and Website Terms of Use. These changes are effective from 1 December 2020.
We're updating our:
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.
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.
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Lump sum repayment administration fee |
$10 |
Removed |
|
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.
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.
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Settlement statement fee |
$45 |
Removed |
|
Lump sum repayment administration fee |
$40 |
Removed |
|
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.
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.
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 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 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. |
|
Balance |
Previous rate |
Rate as of 1 December 2020 |
|
$0+ |
0.50% p.a. |
0.25% p.a. |
|
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. |
|
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. |
Previous public notices can be found on our archived public notices.