BNZ unveils competitive fixed rate offers for homeowners, following Kiwibank and ANZ

BNZ has rolled out new, lower interest rates across several home loan terms, headlined by a market-leading 18-month fixed rate of 4.95% p.a.
The revised rates come into effect immediately for both new borrowers and existing clients who are eligible to refix.
The new suite of rates includes 5.49% p.a. for a 6-month term, and 4.99% p.a. for both one-year and two-year fixed terms—a clear sign BNZ is positioning itself strongly amid a shifting rate environment.
BNZ’s move follows earlier fixed rate cuts by ANZ and Kiwibank in response to the Reserve Bank’s recent 25-basis-point reduction in the OCR to 3.5%.
Responding to borrower needs in a volatile market
James Leydon (pictured right), BNZ general manager home lending, said the bank’s latest rate changes reflect an evolving landscape in customer preferences.
“We know many of our customers are looking beyond the very short-term fixed rates as the interest rate environment evolves,” Leydon said. “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 also emphasised the importance of maintaining flexibility across the board.
“At the same time, we continue to compete hard for those New Zealanders who prefer the flexibility of our six-month and one-year fixed rate options,” Leydon said. “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.”
Important details and eligibility
The new rates are subject to BNZ’s standard lending criteria, including minimum equity requirements.
Borrowers should note that an establishment fee of up to $150 may apply, along with possible early repayment charges.
As of 6:30am, April 16, BNZ’s 18-month fixed rate is the most competitive offering among New Zealand’s five major banks.