Interest rates are subject to change.
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.
You can also get your family involved to save even more. You can use your partner's, parents' and children's Kiwibank savings and everyday accounts to your offset mortgage – up to eight accounts in total.
You use your savings and everyday accounts as usual – interest is calculated daily, so the more you have in your linked accounts day-to-day, the more you’ll save.
Because your linked accounts are offsetting the interest you’re paying on your home loan, you won’t earn any credit interest on them.
Please let us know which eligible accounts you'd like to be linked to your offset account, as accounts won't be linked automatically.
An offset mortgage has a variable rate – it can change as the market does. Interest is calculated daily, so the more you have in your linked accounts day-to-day, the more you’ll save.
You have set repayments on set dates and you make them the same way you would on a standard variable loan. Because it’s a variable rate, you can make extra repayments whenever you like without paying a penalty.
You don’t have to put your whole loan in an offset mortgage. 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.
Standard terms and conditions
The calculators should be treated as a guide only. They don't take into account all of your individual circumstances and are not financial advice.
Displayed interest rates subject to change. Kiwibank’s lending criteria, terms and conditions and fees apply.