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ASB home loans

Lock in an interest rate of 3.39% fixed for one year when you take out an ASB home loan.


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Whether you are buying your first home, upgrading, building, investing in property, or wanting to shift your current home loan, ASB has all the tips and tools to make it happen.

Striving to provide customers with outstanding service and simple financial products since it opened its doors in 1847, ASB continues to rethink how people bank and now boasts over 1.3 million customers across New Zealand.

If you’re looking for a full-service bank that offers everything from credit cards to savings accounts to insurance, ASB is worth considering for your first or next home loan.

Home loans offered by ASB

  • Fixed interest rate home loan. A fixed-rate home loan makes managing your finances easier as you have one interest rate locked in for a set period of time. This means that you can set a budget knowing that your payments will stay the same for 6 months through to 60 months. Interest rates start from 3.39% and vary depending on what term you choose and whether you are eligible for a special rate.
  • Floating interest rate home loan. Also known as a variable rate loan, a floating loan does not have a fixed interest rate as it changes according to market conditions. Even though your payments may go up and down, you can make extra repayments without being penalised. Current variable interest rate is 5.20%.
  • Revolving credit home loan. Instead of having a separate loan, transactional and savings account, a revolving credit loan acts like a large overdraft on your everyday account. You can withdraw money up to your credit limit and make payments at any time, and your interest costs are minimised by having your income directly credited to this account. This type of loan does take discipline to manage, however, it’s an option for people who have a fluctuating income throughout the year.

Features and benefits

  • Loan pre-approval.Before you start your house hunt, get pre-approved for your loan so you know how much you have to spend. Pre-approvals are valid for 90 days before you need to reapply.
  • Help every day of the week. ASB has lending specialists that are available every day of the week so you can get things done on the weekend if you are busy during the week.
  • Competitive rates. Being a large nationwide bank, ASB is able to provide competitive interest rates.
  • Increase your payments. On fixed-rate home loans, you can increase your payments by up to $1,000 a month as long as you can keep to the new payment amount for the rest of your loan term.
  • Payment holiday. There may be times when you need to put your payments on hold such as being made redundant from your job or having an illness, so you can apply for a payment holiday.
  • Repayment options. ASB allows you to choose how you want to repay the interest and principal of your loan, with table loan, reducing loan or interest-only options available.
  • Split loan structure. You can split your loan between fixed and floating to have a combination of different interest rates.
  • Special interest rates. If you have a minimum of 20% equity, you’ll be rewarded with a special interest rate of 0.5% off the standard rate.
  • Help me choose. ASB has a ‘help me choose’ function on its website that can help you decide on the right loan type based on your answers to a few simple questions.
  • Mobile lending managers. If you’re unable to get into a branch during normal business hours, a mobile lending manager can visit you at home at a time convenient to you.
  • Ongoing support. When you have questions or need some guidance through the loan process, ASB provides support every step of the way.
  • Loan top up. You may be able to top up your ASB home loan when you need some extra funds for renovations or other reasons.

How do I apply?

Before applying for an ASB home loan, check that you meet the lending criteria and that you have the appropriate documentation. You should also compare rates and terms with other lenders so that you can be sure you are getting the right deal for your financial situation and use the online calculator to work out what your repayments might be for the home that you want to buy.

To start your application, you can either call into your local ASB branch, make an appointment with a mobile lending manager, or fill in a form online. If you are already an ASB customer, you can log in to your internet banking to complete the form from there. When you choose to apply online, a representative will be in touch within four business hours to gather more details and explain the next steps.


  • Be at least 18 years of age
  • Be a New Zealand citizen or permanent resident
  • Meet the ASB lending criteria

Documents and information required

When you complete your application, you will be asked to provide your personal and income information as well as details about the loan you wish to apply for. As you move through the process, you’ll also need to provide:

  • Valid photo ID
  • Proof of address
  • Proof of income
  • Breakdown of expenses

Your ASB home lending specialist will explain exactly which documents you need to provide, but it’s a good idea to get these ready beforehand.

Read more on this topic

  • Revolving credit mortgages If you’re looking to reduce interest charges yet have access to credit when you need it, a revolving credit mortgage is worth considering.
  • Bad credit home loans Find out how you can get your bad credit home loan application approved by a lender.
  • Low doc home loans guide Low doc home loans allow you to get a mortgage if you're self-employed to buy the home or investment of your dreams.
  • Mortgage repayment holidays If you've been struggling to pay your mortgage due to financial hardship you may be able to apply to your lender for a mortgage repayment holiday.
  • How much can I borrow calculator Get an estimate of how much you can borrow and be better prepared for your home loan search.
  • The Homestar rating explained Want to know more about the Homestar rating? We find out how it works and how you can get a Homestar rating for your home or building project.
  • How to save for a house deposit Finder's clear, helpful guide to saving up for a home loan deposit. Savings advice and finance options.
  • 5 year fixed rate home loans A competitive five year fixed rate home loan will see your repayments stay the same for a large chunk of your home loan.
  • 3 year fixed rate home loans A fixed-rate home loan can offer you stability and peace of mind. Find out if a three-year fixed rate home loan is right for you.
  • 2 year fixed rate home loans Enjoy the stability of knowing your repayments won’t change for two years.
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