We compare the home loan interest rates from the major banks in New Zealand.
Of course you want the best rates on offer, but you also should also make sure that you understand the features of the home loans to ensure that you have the best home loan available.
As you can see, in New Zealand the interest rates for fixed terms are lower than floating and therefore most Kiwi’s will put most of their mortgage onto fixed home loans. The issue with fixed home loans is they have limited ability to pay the loans off faster and so you need to be very aware of the various policies regarding what you can and cannot do.
A good fixed home loan will offer you the flexibility to pay more onto a fixed home loan when you can, but then reduce the amount when needed. You should speak to an adviser who can help you choose the best home loan.
Compare the Home Loan Interest Rates
This table shows the advertised home loan interest rates.
When buying a new home your adviser will negotiate the rates and any cash contribution and you can lock those in advance of settlement.
If you are refixing your home loan, the bank will most likely offer you rates via the banking app. You should check with an adviser before just accepting the rates offered as often the adviser might be able to provide lower home loan interest rates. It is a free service that many advisers offer and it only takes a few minutes.
Home loan interest rates
Advertised rates (% p.a.) as at 2 October 2026
| Lender / product | Floating | 6 months | 1 year | 18 months | 2 years | 3 years | 4 years | 5 years |
|---|
Source: interest.co.nz, 2 October 2026. Rates are a guide only, subject to change and lending criteria. Special rates generally require at least 20% equity (LVR under 80%). Check with the lender for current rates before making any decision.
What’s Happening in the Financial Markets
The home loan rates that are shown here are what is being offered today.
We also like to provide you with regular market updates that can assist when choosing what to do with your home loan. Do you want to fix for a short term, a longer term or a mix?
Follow our Market Reports to keep up to date.
