Current special rates
1 year fixed
2 year fixed
3 year fixed
4 year fixed
5 year fixed
Minimum 20% equity. Specials are also available for Welcome Home Loan customers.
+ For all bridging loans, the interest rate will be 1% above Kiwibank’s variable interest rate.See all our home loan rates
How it works
You sign up to pay a set interest rate for a fixed amount of time.
- Your repayments depend on the amount and term of your loan, and the interest rate you’re paying.
- Even if interest rates go up, you’ll continue to pay your fixed rate until the end of the term. But remember it goes the other way too - if interest rates start dropping, or if your circumstances change, you’ll still be locked into the fixed rate and payments until your chosen term ends.
- If you structure your loan with different parts on different terms, each part will have a different repayment plan.
Making extra repayments
You can make extra payments in any year of a fixed term loan of up to 5% of the loan amount at the start of the fixed term.
You can do this by:
- increasing your regular repayments, or
- making lump sum payments.
If you pay off more than 5% extra, you could be charged a lump sum repayment fee, and potentially also a fixed rate break cost.
If you want the option to make extra repayments, you might be better to keep part of your loan on a variable rate — you can make extra repayments on this part whenever you like.
To make an extra payment or change your regular payments, contact our home loan team.
When the fixed term is up
When the fixed term is up, you can:
- re-fix that part of your loan at the current interest rates
- change that part of your loan to variable or offset
- do nothing, and it'll automatically roll onto the variable interest rate when the term is up
- lock in a current interest rate 30 days in advance of the fixed term end date.
Breaking a fixed rate term
If you want to break a fixed rate loan before the term is up, you might have to pay a break cost. This includes:
- breaking your term to take advantage of a better interest rate
- paying off your loan early
- making extra repayments over the 5% limit.
Best for people who:
- budget with certainty about what their repayments will be
- have regular income or want to pay their loan off faster but within the 5% limit
- want to reduce the risk or impact of rising interest rates
Interested? Let's talkGet in touch or apply now
Displayed interest rates subject to change. Kiwibank’s lending criteria, terms and conditions and fees apply.