Choose from four types of home loans
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Fixed rate home loan
With no rate rises during your term, a fixed term home loan gives you the confidence of knowing exactly how much your regular mortgage repayments will be.
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Offset home loan
An offset loan can reduce the amount of interest you pay on your home loan, by using money in your everyday and savings account to ‘offset’ your home loan interest charges.
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Variable rate home loan
With a variable rate (also known as a floating rate), the interest you pay on your home loan can go up or down as interest rates rise and fall and you have the option to pay extra repayments whenever you like.
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Revolving home loan
Revolving home loans work like a big overdraft. Your loan becomes your everyday account, so money flows in and out of your loan balance as you get paid and as you spend and pay bills.
Understanding your home loan structuring options
We explain the differences between fixed, floating, revolving and offset loans, alongside the benefits of each and how they can also work together to help you figure out how to structure your home loan.
Kiwibank's guide to home loans
Before you learn about the different home loan options available, it’s important to understand the basics.
How do revolving home loans work?
A revolving home loan is the ultimate in flexibility. It works like an overdraft, but on a much larger scale. You have a credit limit which you can draw up to at any time. Managed carefully, it can be a great way to have funds available if and when you need them.
Fixed rate home loan
A fixed rate home loan gives you the benefit of certainty by locking in your interest rate for a specific period of time. Your interest rate will depend on how long you can choose to “fix” the loan for.
Offset home loan
Offset home loans take into account the total balance you have in your linked Kiwibank savings and everyday accounts, before calculating how much interest to charge on your home loan, saving you money on repayments.
Variable rate home loan
A variable rate home loan offers lots of flexibility. The interest rate and the payments you make can change over the term of your loan.
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Displayed interest rates are subject to change. Kiwibank’s lending criteria, terms and conditions, and fees apply.