Fees

The following are the fees and costs you pay on business lending (the fees and costs you pay on Kiwibank Home Loans are set out in the home loan fee section):

Application fee

When you apply for a new loan or overdraft, or an increase in an existing loan or overdraft.

0.75% of the loan amount or overdraft limit, or the amount of the increase. Minimum fee $25 for loans and $75 for overdrafts.

Consent fee

When your solicitor asks for our consent to a variation to certificate(s) of title of a property provided as security.

$100 per certificate of title.

Courier costs

When you ask us to courier documents to you, either within New Zealand or overseas.

Demand fee

When we demand payment of all amounts outstanding under your lending because you are in default.

$50 per demand.

When we pay an insurer premiums that are due on security provided for your lending.

$50 per payment to the insurer.

When we pay a local authority rates that are due on security provided for your lending.

$50 per payment to the local authority.

Discharge of security fee

When you ask us to discharge or partially discharge your mortgage or security.

$75 per mortgage or security.

If requested to be completed in less than five business days, and where the discharge is required to refinance with another lender – an additional $50 per request.

Early exit fee

When your loan is repayable over more than three years and you fully repay the loan within three years from the date you first drawdown your loan.

$250.

Fixed rate break cost

When you repay your entire fixed rate loan early or make an additional payment which, together with any other additional payments you’ve made, exceeds our early repayment limit or if you switch your fixed rate loan to a variable rate loan or other fixed rate.

The amount of the costs varies depending on the current interest rates and how long the loan has left to run.

Fixed rate lock option

When you ask us for a fixed rate lock option.

The amount of the fee varies depending on the amount you want to lock in and how long you want to lock it in for. The amount of the fee will be set out in the Fixed Rate Lock Option Agreement.

Investigation fee

When you ask us to investigate something about your lending.

$60 per hour. Minimum fee $15.

Lending restructure fee

When you ask us to change your existing lending.

For example:

  • splitting an existing loan;
  • combining existing loans;
  • changing the term or interest only period of an existing loan;
  • changing the type of an existing loan (but not changing an existing loan to a fixed rate loan or refixing an existing fixed rate loan);
  • changing the repayment type on an existing loan from principal and interest to interest only;
  • changing the identity of the borrower; or
  • changing the identity of the guarantor.

$175 per change.

Where we are changing multiple existing loans, the fee applies per changed loan.

Lump sum repayment administration fee

When you make additional payments on your fixed rate loan which exceed our early repayment limit.

$40 per repayment.

Non-utilisation fee

When you don’t use your entire revolving facility.

Calculated daily at 0.6% p.a. on the difference between the maximum credit limit of the revolving facility and the highest amount outstanding on the revolving facility that day. Charged monthly.

Overdraft fee

What you pay to have an overdraft.

0.10% of the overdraft limit per month. Minimum fee $5.

Overdraft over limit fee

When you exceed your overdraft limit by more than $20 at any time during the month.

$10 per month (this will show on the account statement you access the overdraft from as an Account out of Order fee).

Performance bond/Irrevocable letter of credit establishment fee

When you ask us to issue a performance bond/irrevocable letter of credit.

1% of the value of the performance bond/irrevocable letter of credit. Minimum fee $25.

Performance bond/Irrevocable letter of credit ongoing fee

What you pay to have the performance bond/irrevocable letter of credit.

1% per annum of the value of the performance bond/irrevocable letter of credit. Charged quarterly. Minimum fee $25 per quarter.

Security restructure fee

When you ask us to change our existing security.

For example:

  • changing the identity of the owner of the security;

or

  • changing the security.

$200 per request.

Settlement statement fee

When you ask us to prepare a settlement statement.

This fee doesn’t apply if the lending balance is zero.

$45 per request.

Temporary overdraft arrangement fee

When you ask for a temporary overdraft or a temporary increase in your overdraft.

0.25% of the overdraft limit, or the amount of the increase. Minimum fee $75.

Kiwibank's lending criteria, terms and conditions, and fees apply. Fees effective as at 1 April 2016. Fees subject to change. Unless otherwise specified, all amounts shown are in New Zealand dollars.