How it works

  • Take the balance of your home loan
  • Subtract the balance of your savings and everyday accounts
  • Only pay interest on the difference
  • Each month your statement will show you how much you’ve saved in interest.
  • Available to individuals, or couples if they're married, in a civil union or a de facto relationship.

How your linked accounts work

  • You can link any of our savings and everyday accounts (but not term deposits, KiwiSaver, Notice Saver, PIE Online Call and PIE term deposits). A savings or everyday account can only be linked to one offset mortgage.
  • Link Kiwibank savings and everyday accounts from your partner, parents and children to save even more — up to eight accounts in total.
  • Use your savings and everyday accounts as usual — interest is calculated daily, so the more you have in your accounts day-to-day, the more you’ll save.
  • Your accounts won’t earn credit interest while they’re linked to your home loan.

How the interest rate and repayments work

  • Offset mortgage has a variable rate — it can change as the market does.
  • Interest is calculated daily, so the more you have in your accounts day-to-day, the more you’ll save.
  • You can choose to have part of your home loan on a fixed interest rate and part of it on offset. If you decide you want to fix all of your home loan, we’ll just de–link your accounts from your home loan and they’ll go back to earning credit interest as usual.
  • Make repayments the same way you would on a standard variable loan.
  • Make extra repayments whenever you like without paying a lump sum repayment fee.
  • For more certainty about what rate you’ll pay, you can put some of your loan in offset, and some on a fixed rate.

Best for people who:

  • like to have savings on hand
  • keep plenty of cash across their accounts day to day.

Talk to a home loan expert - we're here to help

At any stage of your home buying journey our home loan experts are available to give you obligation-free advice and guide you through the process right to the end.

Our Mobile Mortgage Managers can come to your choice of location and our Banking Consultants are available at your local Kiwibank branch. Our home loan team is also available by calling 0800 000 654 between 8am and 6pm, Monday to Friday.

Offset mortgage is not available to companies, trusts or sole traders. A customer may have more than one offset mortgage.