Home Loans

Buying a home is one of the most important investments you will make in your life. At Bank of China (New Zealand) Limited ("BOCNZ", a New Zealand registered bank), we endeavor to help our customers achieve their lifetime goals of owning a home. Bi-lingual Chinese language staff are available.

We are happy to help if you are:

A first-time home buyer;
Looking to buy an investment property
Wanting to refinance your home loan to BOCNZ; or
Just wanting to find out if we can help with your home lending needs.

Residential home loan interest rates

To see our current interest rates, click here:

Residential Mortgage Interest Rates (20260622)

Home loan interest rate types

Floating rate home loan: With a floating (or variable) rate home loan, your home loan interest rate can change throughout the loan term. You have the flexibility to make lump sum repayments of any size at any time without extra charges. As the rate is floating, it can go higher or lower than fixed-term rates. You may be able to change from a floating interest rate to a fixed interest rate, but please be aware that some types of home loans only offer the floating interest rate option.

Fixed rate home loan: Fixed rate means your home loan interest rate stays the same for an agreed period. It offers customers the benefit of knowing the exact amount of the monthly loan repayment for the fixed rate period. However, if you pay off a part or all of your home loan early during the fixed interest rate period, you may have to pay break costs (early repayment charge). At the end of your fixed interest rate term you can either choose a new fixed interest rate from the rates available at the time, or move to a floating interest rate.

Types of home loans available

Table Loan: With table loans your home loan repayments are the same each payment date unless your interest rate changes. Each repayment includes a combination of interest and principal. Initially your repayment is made up mostly of interest, but as the amount you owe decreases, your payment will include less interest and more principal (the amount you borrowed). Table loans can be on a fixed interest rate or floating interest rate.

Plus home loan: A Plus home loan is a revolving “line of credit” home loan that you can pay money into, and take money out of, within your approved credit limit at any time. You only pay interest on the amount you have used, not on the entire credit limit. Plus home loans have a floating interest rate. Interest is calculated daily and charged monthly so keeping the balance of your Plus home loan as low as you can, for as long as you can may help you pay less interest overall. No monthly account fee applies. The maximum loan term for a Plus home loan is 25 years.

Plus Offset home loan: A Plus Offset home loan allows you to link an Offset savings account to your Plus Offset home loan. The balance of your Offset savings account is used to reduce, or offset, the balance of your Plus Offset home loan for the purpose of calculating interest. This means you only pay interest on the difference (or net balance). For example, if you have a Plus Offset home loan with a balance of $500,000, and $300,000 in your Offset savings account, you will only pay interest on $200,000.

The Plus Offset home loan has a floating interest rate. Interest is calculated daily on the net balance from (and including) the date of drawdown (lending date) and is charged to your loan account on each scheduled repayment date.

You are still required to make your scheduled loan repayments however if you have funds in your linked Offset savings account, more of each payment will go towards paying off the principal part of your loan which will mean you will pay off your Plus Offset home loan faster and save on interest.

No account fees apply to the Plus Offset home loan. The Offset savings account does not earn credit interest and does not incur account fees. It is used solely for the purpose of offsetting your Plus Offset home loan balance. If the balance in the Offset savings account exceeds the Plus Offset home loan balance, no credit interest will be earned on the excess amount.

Principal and Interest home loan: Each repayment goes towards the amount your borrowed (the principal) and the interest charged on the outstanding loan balance.

You could pay less interest over the life of the loan as your principal balance will be reduced by each repayments in accordance with your loan agreement.

Interest only home loan: With an interest only home loan you do not repay any principal (the original amount you borrowed) until an agreed date. At each payment date you only pay the interest that has accrued on the home loan since the previous payment date. At the conclusion of your agreed interest only period, your regular loan repayments will be higher to reflect the interest only period where you were not reducing the principal, and you may pay more interest over the life of the loan.

Home loan application

To get started with your Home loan application, click here:

Residential Home Loan Application Form

Contact number: +64 9 980 9016

Email address: personalbanking.nz@bankofchina.com

Documents (Prior to signing any loan documentation you should seek independent legal advice)

Lending Criteria and Terms & Conditions apply

Home Loans

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