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Residential Mortgage Interest Rates (20240919)

2024-09-19

The following information is current from Thursday, 19th September 2024 and is subject to change.

  Floating Fixed
6 months
Fixed
1 year
Fixed
18 months
Fixed
2 years
Fixed
3 years
Fixed
4 years
Fixed
5 years
Standard Interest Rate (% p.a.) 9.39 7.75 7.25 6.95 6.75 6.75 6.65 6.65
Special Interest Rate (% p.a.) * 7.49* 6.75* 6.25* 5.95* 5.75* 5.75* 5.65* 5.65*
Plus Home Loan Interest Rate (%p.a.) 7.49 n/a n/a n/a n/a n/a n/a n/a

General conditions that apply to all interest rates:

  • * Special Interest Rate requires minimum 20% equity in the property provided to Bank of China (New Zealand) Limited ("BOCNZ") as security.
  • Minimum lending of $750,000 (Effective from 13th September 2023).
  • Maximum lending term of 30 years.
  • Standard Interest Rate may be applied to lending for business or investment purposes.
  • BOCNZ's lending criteria, terms, conditions, and fees apply. An early repayment adjustment may apply if you terminate an existing fixed interest rate period.
  • Interest rates are subject to change or withdrawal at any time without prior notice. You should seek confirmation from us before you take out any home loan.
  • You may be charged the default interest rate, which is the annual interest rate plus 5.00% p.a, if you do not pay amounts on your loan when they are due.
  • Plus Home Loan
    • For minimum lending over $1,200,000 can apply for Plus Home Loan.  
    • Minimum loan limit is $50,000.  
    • Interest charges accrue daily on the outstanding balance.  
    • No set monthly repayments. A default interest rate is applied if you do not repay the amount when it is due. The default rate is your current Plus Home Loan rate plus 12.50% p.a.  

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