Variable rate home loans

If you like a bit of flexibility in life, then a variable home loan could be for you. This is a home loan that flexes with you.

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Benefits at a glance

Interest rates are subject to change.

  • You'll pay a variable interest rate – it may change as the market does.

  • Flexibility to make extra payments whenever you like.

  • You can increase your regular repayments without paying a penalty.

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How it works

Variable rate home loan video cover image

  • Variable interest rate

    With a variable rate home loan (also known as a floating rate home loan), the interest you pay on your home loan can go up or down.

    If interest rates fall, you’ll pay less in interest and pay off your home loan faster as we keep your repayments the same. However, if it rises, your repayments may increase so you need to have the room in your budget to cope with higher repayments.

  • Making lump sum payments

    You'll be able to make lump sum payments at no extra cost, and you're able to make as many additional payments as you'd like. This can be handy if you come into some money that you didn't expect.

    See our step-by-step guide on how to make a lump sum payment.

  • Making repayments

    You'll have a minimum repayment amount which you'll pay on your set repayment date.

    But you also have the flexibility to increase your repayments whenever you like or if you want to reduce your repayments down to the minimum repayment amount, you can also request this.

    To change your repayments, send us a secure mail or call 0800 000 654.

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Home loan standard terms and conditions

Displayed interest rates are subject to change. Kiwibank’s lending criteria, terms and conditions, and fees apply.

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