# BNZ mortgage rates: fixed and floating home loan rates

> BNZ's home loan rates for all fixed terms and floating, checked on its website on 11 November 2026. The 1-year rate is 4.99%. Compare them with the other main banks.

By Jason Dark, last checked 2026-11-11. Part of [Mortgage rates](https://buyingahouse.co.nz/mortgage-rates) on Nester.

## The short version

- BNZ offers a 1-year fixed rate of 4.99% and a floating rate of 6.34%.
- BNZ has one set of rates for everyone. If you have less than 20% equity, it adds a low equity premium.
- BNZ has the lowest rate among the main banks for the 6-month, 1-year, 3-year, 4-year and 5-year terms.

These home loan rates are from BNZ's website, checked on 11 November 2026. BNZ says they were last updated on 4 November 2026.

## BNZ fixed rates

- 6 months: 4.79%
- 1 year: 4.99%
- 18 months: 5.29%
- 2 years: 5.35%
- 3 years: 5.59%
- 4 years: 5.65%
- 5 years: 5.75%

BNZ has one set of rates for everyone. If you have less than 20% equity, it adds a low equity premium.

## BNZ floating rate

BNZ's floating rate is 6.34%. With a floating rate, you can pay extra or pay off the loan at any time, but it usually costs more than a fixed rate.

## Less than 20% equity

If you have less than 20% equity, BNZ adds a low equity premium to your rate: 0.35% for [LVRs](https://buyingahouse.co.nz/glossary/lvr) of 80% to 85%, 0.75% for 85% to 90%, 1.20% for 90% to 95% and 1.50% above that. The [First Home Loan guide](https://buyingahouse.co.nz/buying/first-home-grant) explains how to buy with a smaller deposit.

## How BNZ compares

- 6 months: 4.79%, the lowest, tied with ANZ and ASB
- 1 year: 4.99%, the lowest, tied with ANZ and ASB
- 18 months: 5.29%, 0.10 points above 5.19% at Westpac
- 2 years: 5.35%, 0.06 points above 5.29% at Westpac
- 3 years: 5.59%, the lowest, tied with ANZ, ASB, Westpac and Kiwibank
- 4 years: 5.65%, the lowest, tied with ASB and Westpac
- 5 years: 5.75%, the lowest, tied with ASB and Westpac

The [mortgage rates comparison](https://buyingahouse.co.nz/mortgage-rates/compare) shows each bank's rate for every term.

## Repayments at BNZ's 1-year rate

On a $630,000 loan over 30 years at 4.99%, the fortnightly repayment is $1,558.38. $630,000 is about the national median house price less a 20% deposit. Use the [mortgage calculator](https://buyingahouse.co.nz/tools/mortgage-repayments?rate=4.99) to see your own repayments at this rate.

## Common questions

### What are BNZ's mortgage rates?

BNZ offers a 1-year fixed rate of 4.99% and a floating rate of 6.34%. Its fixed rates range from 4.79% to 5.75%, depending on the term. These rates were checked on 11 November 2026.

### What does BNZ charge if I have less than a 20% deposit?

If you have less than 20% equity, BNZ adds a low equity premium to your rate: 0.35% for LVRs of 80% to 85%, 0.75% for 85% to 90%, 1.20% for 90% to 95% and 1.50% above that.

## Sources

- [BNZ: Compare home loan rates](https://www.bnz.co.nz/personal-banking/home-loans/compare-bnz-home-loan-rates)