BNZ Cuts Home Loan Rates, Offers Market-Leading 18-Month Fixed Rate

BNZ today cut interest rates across a number of home loan terms, with a market-leading 18-month fixed rate of 4.95% p.a.*

BNZ’s rates include 5.49% p.a. for 6 months, 4.99% p.a. for 1 year, and 4.99% p.a. for 2 years. The new rates are available from today for both new customers and existing customers who are eligible to refix.

BNZ General Manager Home Lending James Leydon says these competitive rates respond to customers’ diverse home loan needs, giving customers more options as they navigate the current interest rate environment.

“We know many of our customers are looking beyond the very short-term fixed rates as the interest rate environment evolves. By offering a market-leading 18-month option, we’re giving customers more choice and the ability to lock in a competitive rate for a longer period,” he says.

“At the same time, we continue to compete hard for those New Zealanders who prefer the flexibility of our 6-month and 1-year fixed rate options. With fixed rates reduced across multiple terms, we’re providing solutions that work for a wide range of borrowers.

“It’s also a timely Easter bonus for homeowners, when household budgets can face a bit of extra pressure from those extra school holiday costs.”

The changes follow BNZ’s announcement last week that it will cut its floating home loan rates by 25 basis points, following the Reserve Bank’s OCR reduction.

BNZ lending criteria (including minimum equity requirements), and terms apply. Rates subject to change. Up to $150 establishment fee and early repayment charges may apply.

*As at 6.30am 16 April 2025, BNZ has the market leading 18-month fixed rate of the five main banks.

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